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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

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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 $1150 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: Post the effects to the appropriate T-accounts and determine ending account balances Show a beginning balance of zero. ces Cash Supplies Credit Credit Debit Beginning Balance Debit Beginning Balance Ending Balance Ending Balance Equipment Accounts Payable Credit Credit Debit Beginning Balance Debit Beginning Balance Ending Balance Ending Balance Common Stock Notes Payable (short-term) Debit Beginning Balance Credit Credit Debit Beginning Balance Ending Balance Ending Balance

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