you prepaid $12,000 for advertising that would run equally over the 6 months, January - June....
you prepaid $12,000 for advertising that would run equally over the 6 months, January - June. How would the use of the advertising be recorded in your accounting system in May?
Debit Advertising Expense for $2,000 and Credit Cash for $2,000
Debit Prepaid Advertising for $2,000 and Credit Advertising Expense for $2,500
othing. You recorded the payment of advertising in January.
Debit Advertising Expense $2,000 and Credit Prepaid Advertising $2,000
Homework Answers
Answer :
Debit Advertising Expense $2,000 and Credit Prepaid Advertising $2,000
Note:
Per Month Expense = prepaid advertising expense / total time
= $ 12,000 / 6
= $ 2,000
Add Answer to:
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