M2-10 (Algo) Preparing Journal Entries [LO 2-3] The following are the transactions of Spotlighter, Incorporated, for the month of January. a. Borrowed $4,740 from a local bank on a note due in six months. b. Received $5,430 cash from investors and issued common stock to them. c. Purchased $2,600 in equipment, paying $1,000 cash and promising the rest on a note due in one year. d. Paid $1,100 cash for supplies. e. Bought and received $1,500 of supplies on account. Required: Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)