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The following are the transactions of Spotlighter, Inc., for the month of January. a. Borrowed $4,390 from a local bank on a note due in
The following are the transactions of Spotlighter, Inc., for the month of January. a. Borrowed $4,390 from a local bank on a 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 supplies on account. Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 Borrowed $4,390 from a local bank on a note due in six months. Record the transaction. Note: Enter debits before credits. Debit Transaction General Journal Credit a Record entry Clear entry View general journal LO
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