When Cohen begins to discuss financing, Trump interrupts him and asks, "What financing?"
"We'll have to pay," Cohen responded.
The audio is muffled, but can be heard saying to "pay with cash" and Cohen immediately says, "no, no."
Trump can be heard after saying, "check."
Last week, Trump's lawyer Rudy Giuliani said the recording would prove that "the President said it has to be done correctly and it has to be done by cheque."
Giuliani provided a transcript to CNN that Trump told Cohen, "Don't pay with cash ... cheque."
"The transcript that we provided CNN accurately reflects the taped conversation," Giuliani told AP.
"Listen to the tape. Donald Trump is not shocked money is being paid about someone named Karen McDougal," Davis said during an interview with CNN.
Davis said his client — who is under investigation by federal officials in New York — "has been disparaged and insulted and called all kinds of things. He's got truth on his side and he'll continue to tell the truth."
American Media, Inc.'s payment effectively silenced McDougal through the election, though days beforehand news of the deal emerged in the Wall Street Journal. At the time, a Trump spokeswoman said his campaign had "no knowledge of any of this."
-AP
