Reference no: EM132060398
Question - The following are the transactions of Spotlighter, Inc., for the month of January 2013:
a. Borrowed $5,540 from a local bank on a note due in six months.
b. Received $6,230 cash from investors and issued stock to them.
c. Purchased $2,600 in equipment, paying $1,000 cash and promising the rest on a note due in one year.
d. Paid $1,100 cash for supplies.
e. Bought and received $1,500 of supplies on account.
Prepare a classified balance sheet for Spotlighter Inc. as of January 31, 2013.
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: Purchased $2,600 in equipment, paying $1,000 cash and promising the rest on a note due in one year. Prepare a classified balance sheet for Spotlighter Inc
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