Question: Upsilon Media Upsilon Media is under investigation for misstating their advertising expenses. The income statement reports $1,200,000 in advertising expenses. $100,000 in personal expenses were

Upsilon Media
•Upsilon Media is under investigation for misstating their advertising expenses.
•The income statement reports $1,200,000 in advertising expenses.
•$100,000 in personal expenses were reported as advertising.
•$80,000 in duplicate payments were found.
•$50,000 in advertising expenses were unrecorded.
Requirement: Calculate the correct advertising expenses and describe the fraudulent activities identified.

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