1.The company receives payment of $400 for an accounts receivable balance that have previously written off.

debit?

credit?

2.Lacey company paid for two months of advertising. What will the journal entry be when they have consumed one of the two months worth of advertising?

a) debit advertising payable

credit cash

b) debit prepaid advertising

credit cash

c) debit advertising expense

credit prepaid advertising

d) debit prepaid advertising

credit advertising expense