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Adjusting entries
One month's advertising was expended in accordance with the agreement made with the newspaper on December 1. ( agreement is : Contracted with the local newspaper for three month's of adverting and paid in full the total fee of $600)
I am thinking that it is Accounts expense debit $200.00 And prepaid Newspaper adverisement is credited $200.00 Can you tell me if this is correct. Thanks |
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