The following transactions occurred during march, the first month of operations for quality galleries, inc.
* capital stock was issued in exchange for $360,000 cash.
* purchased $180,000 of equipment by making a $60,000 cash down payment and signing a note payable for the balance.
* made a $35,000 cash payment on the note payable from the purchase of equipment.
* sold a piece of equipment for cash of $18,000. the equipment was sold at cost, so there is no gain or loss on the sale.

references
what is the balance in the cash account at the end of march?
$343,000.
$318,000.
$283,000.
$378,000.

$283,000

Explanation: Quality Galleries, Inc has the under listed cash transactions in the month of March:

Capital stock exchange for cash              = $360,000

Less: Cash payment for stock                =     $60,000

Less: cash payment on note payable       =  $35,000

Add: cash from the sales of an equipment = $18,000

balance at the end of the month of March in the cash account is $283,000

according to the song of roland, the characteristics of an ideal knight are: loyalty to the king, skilled warriors and horseman, valiant, bold, courageous, strong and proud in battle. they should be determined to fulfil their duties and willing to die to make their people safe.