What is the journal entry Awesome Company should make on November 1, 2019, when borrowing $20,000 for a 3-month, 9% note from PNC Bank?
a) Debit Cash $20,000; Credit Notes Payable $20,000
b) Debit Equipment $20,000; Credit Cash $20,000
c) Debit Interest Expense $1,800; Credit Cash $1,800
d) Debit Equipment $20,000; Credit Notes Payable $20,000