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The following are the transactions of Spotlighter, Inc., for the month of January 2013: Borrowed $4,640 from a local bank on a note due in
The following are the transactions of Spotlighter, Inc., for the month of January 2013: Borrowed $4,640 from a local bank on a note due in six months. Received $5,330 cash from investors and issued stock to them. Purchased $1,700 in equipment, paying $550 cash and promising the rest on a note due in one year. Paid $650 cash for supplies. Bought and received $1,050 of supplies on account. Prepare a classified balance sheet for Spotlighter Inc. as of January 31, 2013
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