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The following are the transactions of Spotlighter, Inc., for the month of January. a. Borrowed $4,390 from a local bank on a note due In
The following are the transactions of Spotlighter, Inc., for the month of January. a. Borrowed $4,390 from a local bank on a note due In six months. b. Recelved $5.080 cash from Investors and Isued common stock to them. c. Purchased $1.900 in equlipment, paylng $650 cash and promising the rest on a note due In one year. d. Paid $750 cash for supplies. e. Bought and recelved $1,150 of supplies on account. Post the effects to the appropriate T-accounts and determine ending account balances. Show a beginning balance of zero. Cash Supplies Beg. Bal. Beg. Bal. End. Bal. End. Bal. Accounts Payable Equipment Beg. Bal. Beg. Bal End. Bal. End. Bal. Notes Payable (short-term) Common Stock Beg. Bl. Beg. Bl. End. Bal. End. Bal
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