adjusting entries

elisa77 · #1 Jan 30, 2007, 09:52 AM

how would i journalize this adjusting entry
1. A total of $640 worthof advertising copy, paid for and correctly charged to the advertising Expense account, will be published in January editions next quarter.

my answer is
prepaid advertising debit 640
advrtisng expense credit 640

elecho12 · Jan 30, 2007, 06:24 PM

Quote:

Originally Posted by elisa77

how would i journalize this adjusting entry
1. A total of $640 worthof advertising copy, paid for and correctly charged to the advertising Expense account, will be published in January editions next quarter.

my answer is
prepaid advertising debit 640
advrtisng expense credit 640

Credit cash 640
Debit prepaid advertising 640



At Ask Me Help Desk you can ask questions in any topic and have them answered for free by our experts. To ask questions or participate in answering them you must register for a free account. By registering you will be able to: Get free answers from experts in any of our 300+ topics. Accept money for answers that you provide. Communicate privately with other members (PM). See fewer ads. Sign Up!