On January 2, the company borrowed $50,000 from a bank, payable in one month. Complete the necessary journal entry.
a) Credit Cash $50,000; Debit Bank Loan $50,000
b) Credit Bank Loan $50,000; Debit Cash $50,000
c) Credit Bank Loan $50,000; Debit Accounts Receivable $50,000
d) Credit Accounts Payable $50,000; Debit Cash $50,000