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M2-11 Posting to T-Accounts [LO 3] The following are the transactions of Spotlighter Inc. for the month of January 2010:

M2-11 Posting to T-Accounts [LO 3]




The following are the transactions of Spotlighter Inc. for the month of January 2010:




a.

Borrowed $3,940 from a local bank on a note due in six months.



b.

Received $4,630 cash from investors and issued stock to them.



c.

Purchased $920 in equipment, paying $190 cash and promising the rest on a note due in one year.



d.

Paid $372 cash for supplies.



e.

Bought $700 of supplies on account.

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