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The following are the transactions of Spotlighter, Incorporated, for the month of January a Borrowed $4,240 from a local bank on a note due in
The following are the transactions of Spotlighter, Incorporated, for the month of January a Borrowed $4,240 from a local bank on a note due in six months. b. Received $4,930 cash from investors and issued common stock to them. c. Purchased $1,300 in equipment, paying $350 cash and promising the rest on a note due in one year. d. Paid $450 cash for supplies. e. Bought and received $850 of supplies on account Required: Prepare a classified balance sheet for Spotlighter, Incorporated, as of January 31 SPOTLIGHTER INCORPORATED Balance Sheet 0 0 $ $ 0
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