The following are the transactions of Spotlighter, Incorporated, for the month of January. a. Borrowed $4,890 from a local bank on a note due in six months. b. Received $5,580 cash from investors and issued common stock to them. c. Purchased $2,900 in equipment, paying $1,150 cash and promising the rest on a note due in one year. d. Paid $1,250 cash for supplies. e. Bought and received $1,650 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" the first account field.) 1 Borrowed $4,890 from a local bank on a note due in six months. Record the transaction. 2 Received $5,580 cash from investors and issued common stock to them. Record the transaction. 3 Purchased $2,900 in equipment, paying $1,150 cash and promising the rest on a note due in one year. Record the transaction. 4 Paid $1,250 cash for supplies. Record the transaction. 5 Bought and received $1,650 of supplies on account. Record the transaction. Journal entry worksheet 5 Borrowed $4,890 from a local bank on a note due in six months. Record the transaction. Note: Enter debits before credits