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 $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 Assets Stockholders' Equity Llabilities Notes Payable (short-term) 3,940 3,940 a. Cash b C d e