Required information [The following information applies to the questions displayed below.) The following transactions occurred during March, the first month of operations for Quality Galleries, Inc.: . Capital stock was issued in exchange for $370,000 cash. * Purchased $200,000 of equipment by making a $70,000 cash down payment and signing a note payable for the balance. Made a $40,000 cash payment on the note payable from the purchase of equipment Sold a piece of equipment for cash of $28,000. The equipment was sold at cost, so there is no gain or loss on the sale. What is the balance in the Cash account at the end of March