On July 31, 2019, Kingston Corp. purchased $50,000 of inventory on a one-year, 14-percent note payable. Journalize the company's (a) accrual of interest expense on December 31, 2019, and (b) payment of the note plus interest on July 31, 2020 Journalize the company's accrual of interest expense on December 31, 2019. (Record debits first, then credits. Exclude explanations from journal entries. Round your answer to the nearest whole dollar.) Journal Entry Date Accounts Debit Credit 2019 Dec. Journalize the company's payment of the note plus interest on July 31, 2020. (Round your answers to the nearest whole dollar.) Journal Entry Date Accounts Debit Credit 2020 Jul