The following are the transactions of Spotlighter, Inc., for the month of January 2013:
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 $1000 in equipment, paying $200 cash and promising the rest on a note due in one year.
d. Paid $300 cash for supplies.
e. Bought and received $700 of supplies on account.
Post the effects to the appropriate T-accounts and determine ending account balances