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a. 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

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a. 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. Post the effects to the appropriate T-accounts and determine ending account balances. Show a beginning balance of zero. Cash Supplies Beg. Bal. Beg. Bal. End. Bal. End. Bal. Equipment Accounts Payable Beg. Bal. Beg. Bal End. Bal. End. Bal. Notes Payable (short-term) Common Stock Beg. Bal. Beg. Bal. End. Bal. End. Bal

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