The following transactions occurred during March, the first month of operations for Canyon Products, Inc: 1 . Issued 50,000 shares of capital stock in exchange for $600,000 cash 2 . Purchased land for $400,000, using a $150,000 cash down payment and signing a note payable for the balance. 3 . Made a $60,000 cash payment on the note payable from the purchase of land. 4 . Purchased equipment on
credit from Burton, Inc for $63,000. What is the balance in the Cash account at the end of March?
a. $810,000
b. $210,000
c. $600,000
d. $390,000
d
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