For each of the transactions in M2- 9 (including the sample), post the effects to the appropriate T- accounts and determine ending account balances. Show a beginning balance of zero.
a. (Sample) Borrowed $ 3,940 from a local bank on a note due in six months.
b. Received $ 4,630 cash from investors and issued common stock to them.
c. Purchased $ 1,000 in equipment, paying $ 200 cash and promising the rest on a note due in one year.
d. Paid $ 300 cash for supplies.
e. Bought and received $ 700 of supplies on account.

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Cash (A) Supplies (A) Equipment (A) Accounts Payable (L Notes Payable (L) Common Stock (SE)