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The following are the transactions of Spotlighter, Inc., for the month of January a. Borrowed $4,540 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 $4,540 from a local bank on a note due in six months. b. Received $5,230 cash from investors and issued common stock to them. c. Purchased $2,200 in equipment, paying $800 cash and promising the rest on a note due in one year. d. Paid $900 cash for supplies. e. Bought and received $1,300 of supplies on account. Post the effects to the appropriate T-accounts and determine ending account balances Show a beginning balance of zero. Answer is not complete. Cash 0 4,540 5,230 Supplies Beg Balo 900 Beg. Bal. 1.3000 800 8.970 End Bal. 2.200 Equipment Accounts Payable Beg Bal. Beg Bal 2.200 1,300 End. Bal. 2,200 End. Bal 1,300

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