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 common stock 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.