Davidson's Food Mart paid $1,200 in advance to the local newspaper for advertisements that will appear monthly.

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Davidson's Food Mart paid $1,200 in advance to the local newspaper for advertisements that will appear monthly. The following entry was made:

At the end of the year, December 31, 20--, Davidson received notification that advertisements costing $800 had been run. Prepare the adjustingentry.

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College Accounting

ISBN: 978-0538745192

20th Edition

Authors: Heintz and Parry

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Question Posted: Dec 21, 2011 09:40 AM

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Davidson's Food Mart paid $1,200 in advance to the local newspaper for advertisements that will appear monthly.

Question:

1200 00 Advertising Expense 1200 00 5 Cash Paid prepaid advertising 6.

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