On February 1, 2020, Griffin Corp purchased a new building in exchange for a note payable. The building cost $200,000. The building has a useful life of 10 years and a salvage value of $5,000. What is the journal entry Griffin Corp will record for the purchase of the building on February 1, 2020? Dr Building 200,000; Cr Note Payable 200,000 O Dr Cash 200,000 Cr Note Payable 200,000 O Dr Note Payable 200,000, Cr Building 200,000 Dr Building 200,000, Cr Cash 200,000 During the period, HPE Inc had the following transactions: (1) Sold $200 of services on account, (2) Sold $500 of services for cash, and (3) Collected $100 cash from accounts receivable. Assuming there are no beginning balances, calculate the ending balances in the Accounts Receivable and Cash account. Accounts Receivable: $700 debit balance and Cash: $500 debit balance Accounts Receivable: $100 credit balance and Cash: $700 debit balance Accounts Receivable: $100 debit balance and Cash: $600 debit balance Accounts Receivable: $300 debit balance and Cash: $600 debit balance Accounts Receivable: $200 credit balance and Cash: $500 debit balance On February 1, 2020, Griffin Corp purchased a new building in exchange for a note payable. The building cost $200,000. The building has a useful life of 10 years and a salvage value of $5,000 What is the journal entry Griffin Corp will record for the purchase of the building on February 1, 2020? O Dr Building 200,000. Or Note Payable 200,000 Or Cash 200,000; Cr Note Payable 200,000 Dr Note Payable 200,000, Cr Building 200,000 Dr Building 200,000, Cr Cash 200,000