Poor Company borrowed $3,000 cash from the local bank. Which one of the following would be included in the journal entry necessary to record this cash borrowing?
Group of answer choices
a. a DEBIT to Loans Payable for $3,000
b. a DEBIT to Retained Earnings for $3,000
c. a CREDIT to Retained Earnings for $3,000
d. a CREDIT to Loans Payable for $3,000
e. a CREDIT to Cash for $3,000