Andys Autobody Shop has the following balances at the beginning of September: Cash, $10,400; Accounts Receivable, $1,200; Equipment, $36,900; Accounts Payable, $2,100; Common Stock, $20,000; and Retained Earnings, $26,400. Signed a long-term note and received a $97,300 loan from a local bank. Billed a customer $2,600 for repair services just completed. Payment is expected in 45 days. Wrote a check for $710 of rent for the current month. Received $400 cash on account from a customer for work done last month. The company incurred $390 in advertising costs for the current month and is planning to pay these costs next month. Required: Prepare journal entries for the above transactions, which occurred during a recent month. Prepare an income statement. Prepare a statement of retained earnings. Prepare a classified balance sheet.

View transaction list View journal entry worksheet No Transaction General Journal Debit Credit 1 a. Cash 97,300 Notes Payable (long-term) 97,300 2 b. 2,600 Accounts Receivable Sales Revenue 2,600 3 c. Rent Expense 710 Cash 710 4 d. Cash 400 Accounts Receivable 400 5 e. 390 Advertising Expense Accounts Payable 390 Pacmid Pocuired2 ANDY'S AUTOBODY SHOP Income Statement For the month ended September 30 Revenues Sales Revenue Total Revenues 0 Expenses Rent Expense Advertising Expense Total Expenses 0 Net Income ANDY'S AUTOBODY SHOP Statement of Retained Earnings For the month ended September 30 Retained Earnings, Sept. 1 Add: Net Income Retained Earnings, Sept. 30 ANDY'S AUTOBODY SHOP Balance Sheet At September 30 Assets Current Assets Accounts Receivable Equipment Total Assets 0 $ 0 0 n