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.