The following are the transactions of Spotlighter, Incorporated, for the month of January.

Borrowed $$4,740$ from a local bank on a note due in six months.

Received $$5,430$ cash from investors and issued common stock to them.

Purchased $$2,600$ in equipment, paying $$1,000$ cash and promising the rest on a note due in one year.

Paid $$1,100$ cash for supplies.

Bought and received $$1,500$ of supplies on account.

Required:

Post the effects to the appropriate T$-$accounts and determine ending account balances. Show a beginning balance of zero.

Answer rating: 100% (QA)

To post the transactions of Spotlighter Incorporated for the month of January to the appropriate Taccounts and determine ending account balances we wi... View the full answer