The following are the transactions or Spotlighter, Inc., for the month of January a. Borrowed $3,940 from a local bank on a note due in six months b. Received $4,630 cash from investors and issued common stock to them Purchased $1.000 in equipment paying $200 cash and promising the rest on a note due in one year. d. Paid $300 cash for supplies e Bought and received $700 of supplies on account Prepare journal entries for each transaction of no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet Borrowed $3,940 from a local bank on a note due in six months. Record the transaction Note: Enter bits before credits Transaction General Journal Notes Payable (short-term) Debit Record entry Clear entry View general journal Do 80 000 F -