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GenaCL600 [577]
3 years ago
12

The following transactions occurred during March, the first month of operations for Quality Galleries, Inc.

Business
1 answer:
Hunter-Best [27]3 years ago
7 0

Answer: $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

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