For each of the following transactions of Spotlighter, Inc., for the month of January, indicate the accounts,

Question:

For each of the following transactions of Spotlighter, Inc., for the month of January, indicate the accounts, amounts, and direction of the effects on the accounting equation. A sample is provided.
a. (Sample) Borrowed $ 3,940 from a local bank on a note due in six months.
b. Received $ 4,630 cash from investors and issued to them.
c. 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.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...