The following are the transactions of Spotlighter, Incorporated, for the month of January. a. Borrowed $4,940 from a local bank on a note due in six months. b. Received $5,630 cash from investors and issued common stock to them. c. Purchased $3,000 in equipment, paying $1,200 cash and promising the rest on a note due in one year. d. Paid $1,300 cash for supplies. e. Bought and received $1,700 of supplies on account. Required: 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 Borrowed $4,940 from a local bank on a note due in six months. Record the transaction