On January $1,$ Greenbaum Corp. borrows $$500,000$ cash from First National Bank and issues a $2-$year, $$500,000$ promissory note. Interest of $$10,000$ is payable semi$-$annually on June $30$ and December $31.$ On the date of issuance, Greenbaum Corp. should credit

notes payable for $$500,000.$

accounts payable for $$500,000.$

accounts payable for $$510,000.$

notes payable for $$540,000,$