The following are the transactions of Spotlighted, Inc., for the month of January:

a. Borrowed $4,399 from a local bank on note due in six months. b. Received $5,080 cash from investors and issued common stock to them. c. Purchased $1,900 in equipment, paying$650 cash and promising the rest on a note due in one year. d. Paid $750 cash for supplies e. Bought and received $1,150 of supplied on account.

Post the effect to the appropriate T-accounts and determine ending account balances. Show a beginning balance of zero.