M2.9 Determining Financial Statement Effects of Suveral Transactions 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. a. (Sample) Borrowed $3,940 from a local bank on a note due in six monthe. 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. 3 M2.10 Preparing Journal Entries For cach of the transactions in M29 cincluding the sample). Write the journal entry asing the format chown in this chapter (omit explanations). 3 M2-11 Posting to T-Accounts For each of the tansactions in M2-9 cincluding the samples. pont the effects to the appropriate T-acceounts and determine ending aceount balanced Show a beginning balance of zero