ACCOUNT DEBIT CREDIT Tiny Tots- Accruals Tiny Tots provides gymnastics lessons at various daycare centers. The transactions for the year 2017 have been recorded in the accounting system. This assignment requires you to prepare adjusting entries for December 2017. Dec. 31The note payable of $8,000 has been outstanding since July 1, 2017. Under the terms of the note, the note plus interest (12%) is to be paid on July 1, 2018, No Dec. 31 Dec. 31 Dec. 31 interest has been recorded on the note. Instructors' salaries of $2,000 for December will be paid in January. December fees of $160 will be collected in January. $85 will be paid in January for advertising in December. DEBIT DATE 2017 Dec. 31 ACCOUNT CREDIT Dec. 31 Dec. 31 Brilliant Architects - Deferrals