ces Required: The following are the transactions of Spotlighter, Incorporated, for the month of January For...

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ces Required: The following are the transactions of Spotlighter, Incorporated, for the month of January For each transaction, indicate the accounts, amounts, and direction of the effects on the accounting equation. A sample is provided (Enter any decreases to account balances with a minus sign.) a (Sample) Borrowed $4,340 from a local bank on a note due in six months D. Received $5,030 cash from investors and issued common stock to them. c Purchased $1,400 in equipment, paying $400 cash and promising the rest on a note due in one year d Paid $500 cash for supplies. e Bought and received $900 of supplies on account. a Cash b Cash Cash Equipment dCash Supplies Supplies Assets 4.340 Notes Payable (short term) 5,030 Notes Payable (short-term) (400) Liabilities Accounts Payable 4,340 1,000 900 +Common Stock * 14 Stockholders' Equity 5,030 ces Required: The following are the transactions of Spotlighter, Incorporated, for the month of January For each transaction, indicate the accounts, amounts, and direction of the effects on the accounting equation. A sample is provided (Enter any decreases to account balances with a minus sign.) a (Sample) Borrowed $4,340 from a local bank on a note due in six months D. Received $5,030 cash from investors and issued common stock to them. c Purchased $1,400 in equipment, paying $400 cash and promising the rest on a note due in one year d Paid $500 cash for supplies. e Bought and received $900 of supplies on account. a Cash b Cash Cash Equipment dCash Supplies Supplies Assets 4.340 Notes Payable (short term) 5,030 Notes Payable (short-term) (400) Liabilities Accounts Payable 4,340 1,000 900 +Common Stock * 14 Stockholders' Equity 5,030

Answer rating: 100% (QA)

1 2 3 a Cash b Cash c Cash Equipment d Cash Supplies e Supplies Total Assets 10670 Beginning Balance ... View the full answer