The following are the transactions of Spotlighter, Incorporated, for the month of January. Borrowed $3,990 from a local bank on a note due in six months. Received $4,680 cash from investors and issued common stock to them. Purchased $1,100 in equipment, paying $250 cash and promising the rest on a note due in one year. Paid $350 cash for supplies. Bought and received $750 of supplies on account. Required: Prepare journal entries for each transaction