Jack Henry Borrowed $800,000 from Walt Bank to Open a New

Multiple Choice

Jack Henry borrowed $800,000 from Walt Bank to open a new bike store called Wooden Wheels. Jack transferred $650,000 of the cash he borrowed to the store on the first day of the year. How many reporting entities exist in this scenario?

A) One reporting entity.
B) Two reporting entities.
C) Three reporting entities.
D) Four reporting entities.