At December 31, Year 1 the accounting records of Gordon, Incorporated contain the following items Accounts Payable Land $2,500 Accounts Receivable $18,750 7 30,000 Cash Building 31,250 Equipment 40,000 12,500 Notes Payable Capital Stock Retained Earnings 125,000 If the Cash balance at December 31, Year 1 is $67,500, the Notes Payable balance is: O a $47,500. Db. $118,750. Cc $137,500. Od $140,000