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The following transactions occurred during March, the first month of operations for Quality Galleries, Incorporated: Capital stock was issued in exchange for $357,000 cash. Purchased
The following transactions occurred during March, the first month of operations for Quality Galleries, Incorporated: Capital stock was issued in exchange for $357,000 cash. Purchased $174,000 of equipment by making a $57,000 cash down payment and signing a note payable for the balance. Made a $33,500 cash payment on the note payable from the purchase of equipment. Sold a piece of equipment for cash of $15,000. 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
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