Answered step by step
Verified Expert Solution
Question
1 Approved Answer
solve please final answer only The following transactions occurred during March, the first month of operations for Quality Galleries, Incorporated Capital stock was issued in
solve please final answer only The following transactions occurred during March, the first month of operations for Quality Galleries, Incorporated Capital stock was issued in exchange for $351.000 cash Purchased 162,000 of equipment by making a $1,000 cash down payment and signing a note payable for the balance Made a $30,00 cash payment on the note payable from the purchase of equipment Sold a piece of equipment for cash of 59,000. The equipment was sold at cost, so there is no gain or loss on the sale What is the balance in the Note Payable account at the end of March? O 180.500 O $111.000 O 5141,500 O $30,500
solve please final answer only
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started