Davidson's Food Mart paid $1,200 in advance to the local newspaper for advertisements that will appear monthly.
Question:
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.
Transcribed Image Text:
1200 00 Advertising Expense 1200 00 5 Cash Paid prepaid advertising 6.
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