The following transactions occurred during August, the first month of operations for Peters Aluminum:

* Issued shares of capital stock to the owners of the corporation in exchange for $700,000 cash.

* Purchased an office building for $250,000, making a $110,000 cash down payment and signing a note payable for the balance.

* Made a $50,000 cash payment on the note payable from the purchase of the building above.

* Purchased equipment on credit from Eunice Office Park for $10,000.

Refer to the above data. The balance in the Cash account at the end of August is :