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 $1,600 in equipment, paying $500 cash and promising the rest on a note due in one year. d. Paid $600 cash for supplies. e. Bought and received $1,000 of supplies on account. Required: Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select "No Jo the first account field.) Journal entry worksheet 5 Borrowed $4,240 from a local bank on a note due in six months. Record the transaction. Note: Enter debits before credits. 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 $1,600 in equipment, paying $500 cash and promising the rest on a note due in or d. Paid $600 cash for supplies. e. Bought and received $1,000 of supplies on account. Required: Prepare journal entries for each transaction. (If no entry is required for a transaction/event, sele the first account field.) Journal entry worksheet Received $4,930 cash from investors and issued common stock to them. Record the transaction. Note: Enter debits before credits. Journal entry worksheet Purchased $1,600 in equipment, paying $500 cash and promising the rest on a note due in one year. Record the transaction. Note: Enter debits before credits. Journal entry worksheet