Need Accounting Help

The following transactions occurred during December, the first month of operations for Johnson, Corp.: Purchased $150,000 of equipment by making a $55,000 cash down payment and signing a note payable for the balance. Capital stock was issued in exchange for $225,000 cash. Made a $25,000 cash payment on the note payable from the purchase of equipment. Sold a piece of equipment for cash of $14,000. The equipment was sold at cost, so there is no gain or loss on the sale. What is the balance in the Note Payable account at the end of December? Select one: A. 70,000 credit B. 70,000 debit C. 120,000 credit D. 120,000 debit