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[ The following information applies to the questions displayed below. ] The following are the transactions of Spotlighter, Incorporated, for the month of January. a
The following information applies to the questions displayed below.
The following are the transactions of Spotlighter, Incorporated, for the month of January.
a Borrowed $ from a local bank on a note due in six months.
b Received $ cash from investors and issued common stock to them.
c Purchased $ in equipment, paying $ cash and promising the rest on a note due in one year.
d Paid $ cash for supplies.
e Bought and received $ of supplies on account.
equired:
or each transaction, indicate the accounts, amounts, and direction of the effects on the accounting equation. A sample is provided.
Vote: Enter any decreases to account balances with a minus sign.
tableAssets,tabletable
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