M2-9 Determining Financial Statement Effects of Several Transactions [LO 2-2] For each of the following transactions of Spotlighter, Inc., for the month of January, indicate the accounts, amounts, and direction of the effects on the accounting equation. A sample is provided. (Enter any decreases to account balances with a minus sign.) 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 $1000 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. Assets Liabilities Stockholders' Equity a. Cash b. C. 3,940 Notes Payable (short-term) 3,940 d. e