The following are the transactions of Spotlighter, Incorporated, for the month of January.

1. Borrowed $4,390 from a local bank on a note due in six months.
2. Received $5,080 cash from investors and issued common stock to them.
3. Purchased $1,900 in equipment, paying $650 cash and promising the rest on a note due in one year.
4. Paid $750 cash for supplies.
5. Bought and received $1,150 of supplies on account.