Solo Company Borrowed $4,000 from National City Bank on June $\begin{array} { c c c } \text { Payable } & 4,000 & \\\text { Cash } & 4,000\end{array}$

Solo Company borrowed $4,000 from National City Bank on June 1. On August 31, Solo Company paid off the loan plus $100 interest. The correct entry to record the borrowing transaction on June 1 is

A)
$\begin{array} { c c c } \text { Payable } & 4,000 & \\\text { Cash } & 4,000\end{array}$
B)
$\begin{array}{cc}\text { Notes Payable } & 4,100 \\\text { Cash } & 4,100\end{array}$
C)
$\begin{array}{ll}\text { Cash } & 4,000 \\\quad \text { Notes Payable } &4,000\end{array}$
D)
Cash $\quad 4,100$
Notes Payable $\quad 4,100$