A business has agreed to undertake an advertising campaign that will cost 240,000 to be carried out

Question:

A business has agreed to undertake an advertising campaign that will cost £240,000 to be carried out equally over the financial year beginning 1st January. Half of the annual cost is to be paid six-monthly in advance on the first days of January and July. At 31st March the would show: b) An expense of £60,000 and a prepayment of £60,000 Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...