Cost alloa hapter 2 Homework Assign.. Help Save & Exit S Check my wo 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. (Enter any decreases to account balances with a minus sign) a. (Sample) Borrowed $4.840 from a local bank on a note due in six months b. Received $5,530 cash from investors and issued common stock to them c Purchased $1900 in equipment paying $650 cash and promising the rest on a note due in one year d Paid $750 cash for supplies e. Bought and received $1.150 of supplies on account. a. Cash 4840 Notes Payable (short-term) Prev1 of 9 Next 3 4 5 6 8