Question: John Hamilton borrowed $ 5 1 6 , 0 0 0 from Stone Creek Bank to open a new restaurant called Sauce - It -

John Hamilton borrowed $516,000 from Stone Creek Bank to open a new restaurant called Sauce-It-Up. John transferred $464,400 of the cash he borrowed to the restaurant on the first day of the year. How many reporting entities exist in this scenario?
Multiple Choice
One reporting entity
Three reporting entities
Four reporting entities
Two reporting entities

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