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    DjjCon's Avatar
    DjjCon Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Mar 10, 2014, 07:23 PM
    Accounting Help
    I'm not sure what this question means.

    "One month’s advertising was expended in accordance with the agreement made
    with the newspaper on December 1."

    It corresponds with the following question.

    "Contracted with the local newspaper for three months of advertising and
    paid in full the total fee of $600."
    rehmanvohra's Avatar
    rehmanvohra Posts: 739, Reputation: 27
    Senior Member
    		  
    #2

    Mar 11, 2014, 05:47 AM
    December 1:
    Debit Prepaid advertising $600
    Credit Cash $600

    December 31
    Debit Advertising Expense 200
    Credit prepaid advertising 200
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