A company received a bill for newspaper advertising services, $340. The bill will be paid in 10 days. How would the transaction be recorded today?

Multiple Choice

• Debit Accounts Payable $340, credit Cash $340
• Debit Advertising Expense $340, credit Cash $340
• Debit Advertising Expense $340, credit Accounts Payable $340
• Debit Accounts Payable $340, credit Advertising Expense $340