3. (a, b, c, d, e)

The following are the transactions of Spotlighter. Inc., for the month of January: Borrowed $4, 940 from a local bank on a note due in six months. Received $5, 630 cash from investors and issued common stock to them. Purchased $3,000 in equipment, paying $1, 200 cash and promising the rest on a note due in one year. Paid $1, 300 cash for supplies. Bought and received $1, 700 of supplies on account. Post the effects to the appropriate T-accounts and determine ending account balances. Show a beginning balance of zero