At December 31, Year 1 the accounting records of Gordon, Incorporated contain the following items: Accounts Payable Land Building Notes Payable Retained Earnings $ 2,500 30,000 31,250 ? 125,000 Select one: O a. $118,750. O b. $47,500. O c. $140,000. O d. $137,500. Accounts Receivable Cash Equipment Capital Stock If the Cash balance at December 31, Year 1 is $67,500, the Notes Payable balance is: $ 18,750 ? 40,000 12,500

At December 31, Year 1 the accounting records of Gordon, Incorporated contain the following items: If the Cash balance at December 31 , Year 1 is $67,500, the Notes Payable balance is: Select one: a. $118,750. b. $47,500. c. $140,000. d. $137,500