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The following are the transactions of Spotlighter, Inc., for the month of January. a. Borrowed $5,640 from a local bank on a note due in

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The following are the transactions of Spotlighter, Inc., for the month of January. a. Borrowed $5,640 from a local bank on a note due in six months. b. Received $6,330 cash from investors and issued common stock to them. c. Purchased $2,700 in equipment, paying $1,050 cash and promising the rest on a note due in one year. d. Paid $1,150 cash for supplies. e. Bought and received $1,550 of supplies on account. Prepare a classified balance sheet for Spotlighter, Inc., as of January 31. SPOTLIGHTER INC. Balance Sheet At January 31 Assets Current Assets Cash Supplies Total Current Assets 0 0 Supplies $ 0 $ 0

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