Mountain Water Corp. issued common stock of $28,000 to pay off long-term notes payable of $28,000. In what section(s) would these transactions be recorded? a. Financing activities payment of note,...

Mountain Water Corp. issued common stock of $28,000 to pay off long-term notes payable of $28,000. In what section(s) would these transactions be recorded?

a. Financing activities payment of note, $(28,000)

b. Financing activities cash receipt, $28,000

c. Non-cash investing and financing activities, $28,000

d. Both a and b are correct.