The note corresponds to a debit note in an accounting log, serving as a record of a revision. Business-to-business transactions use both debit and credit notes.

When you initially record the note, you need to debit cash in the amount received for the note. A debit in accounting is one half of any entry recording a financial transaction.

For interest accrued on 6-month note payable, the liability account "interest expense payable" should be decreased by a debit, and the cash account should be reduced with a credit.