Cohen told Trump about his plans to set up a company and finance the purchase of the rights from American Media, which publishes the National Enquirer.

"I need to open up a company for the transfer of all of that info regarding our friend David," Cohen said in the recording, likely a reference to American Media head David Pecker.

Trump interrupts Cohen asking, "What financing?" according to the recording. When Cohen tells Trump, "We'll have to pay." Trump is heard saying "pay with cash" but the audio is muddled and it's unclear whether he suggests paying with cash or not paying. Cohen says, "no, no" but it is not clear what is said next.

https://www.cnn.com/2018/07/24/politics/michael-cohen-donald-trump-tape/index.html