On December $31,2020,$ Concord Company had $$1,319,000$ of short$-$term debt in the form of notes payable due February $2,2021.$ On January $21,2021,$ the company issued $27,300$ shares of its common stock for $$48$ per share, receiving $$1,310,400$ proceeds after brokerage fees and other costs of issuance. On February $2,2021,$ the proceeds from the stock sale, supplemented by an additional $$8,600$ cash, are used to liquidate the $$1,319,000$ debt. The December $31,2020,$ balance sheet is issued on February $23,2021.$

Show how the $$1,319,000$ of short$-$term debt should be presented on the December $31,2020,$ balance sheet. $($Enter account name only and do not provide descriptive information.$)$

Concord Company

Partial Balance Sheet

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