Question: Rawlings Corp. borrows $ 3 , 0 0 0 on a note payable from Third National Bank. Which of the following is used to record

Rawlings Corp. borrows $3,000 on a note payable from Third National Bank. Which of the following is used to record this transaction?
Multiple choice question.
Debit note payable $3,000; credit note receivable $3,000.
Debit account receivable $3,000; credit note payable $3,000.
Debit cash $3,000; credit note receivable $3,000.
Debit cash $3,000; credit note payable $3,000.

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