Determine the account and amount to be debited and the account and amount to be credited for the following adjustment. On December 31, 2019, the Notes Payable account had a balance of
$12,000, for a 5-month, 8 percent note issued on December 1, 2019.

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The Answer of Determine the account and amount to be debited and the account and amount to be credited for the following adjustment. On December 31, 2019, the Notes Payable account had a balance of
$12,000, for a 5-month, 8 percent note issued on December 1, 2019.

Determine the Account and Amount to Be Debited and the Account