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  3. an auto-body repair shop has been in business for

An auto-body repair shop has been in business for 23 years. Signed a long-term note...

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Accounting

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An auto-body repair shop has been in business for 23 years. Signed a long-term note and received a $125,000 loan from a local bank. Billed a customer $4, 600 for repair services just completed. Payment is expected in 45 days. Wrote a check for $565 of rent for the current month. Received $600 cash from a customer for work done the same day. The company incurred $500 in advertising costs for the current month and is planning to pay these costs next month. Prepare journal entries for the above transactions, which occurred during a recent month. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

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