On January 26, Cypress Corporation borrowed cash from Big Bank by issuing a 60-day note with a face amount of $150,000. The note carries an interest rate of 10%. What is the correct entry to record the note on Cypress Company's records

Select one:

a. debit cash $150,000; credit notes payable $150,000.b. debit cash $135,000; credit notes payable $150,000c. debit notes payable $150,000; credit cash $150,000d. debit notes payable $135,000; credit cash $135,000