M2-9 determining financial statement effects of several transactions [lo 2-2] 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.) (sample) borrowed $3,940 from a local bank on a note due in six months. received $4,630 cash from investors and issued common stock to them. purchased $1,000 in equipment, paying $200 cash and promising the rest on a note due in one year. paid $300 cash for supplies. bought and received $700 of supplies on account
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