Parker Company borrowed $75,000 from First Citizens Bank and signed a 5-year, 4% note on May 2, 2020. The principal and interest are due at maturity. What entry should Parker Company record on May 2, 2020? Group of answer choices Debit Notes Receivable, $75,000; Credit Cash, $75,000. Debit Notes Payable, $75,000; Credit Cash, $75,000. Debit Cash, $75,000; Credit Notes Receivable, $75,000. Debit Cash, $75,000; Credit Notes Payable, $75,000.