Bear Essentials borrowed $50,000 from Stacks Bank and signed a promissory note. What entry should Stacks Bank record?
A) Debit Cash, $50,000 Credit Notes Receivable, $50,000.
B) Debit Notes Receivable, $50,000 Credit Cash, $50,000.
C) Debit Cash, $50,000 Credit Notes Payable, $50,000.
D) Debit Notes Payable, $50,000 Credit Cash, $50,000.
Answer: B
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