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During the current accounting period, Matibar Forms Company paid $2,000 for advertising services in advance of receiving them. Prepaid Advertising was debited and Cash was
During the current accounting period, Matibar Forms Company paid $2,000 for advertising services in advance of receiving them. Prepaid Advertising was debited and Cash was credited for $2.000. At the end of the accounting period, three-fourths of the services paid for had been received The proper adjusting entry is Select one o A Advertising Expense 1,500 Prepaid Advertising 1.500 O B. Advertising Expense Prepaid Advertising 500 500 OC Prepaid Advertising Advertising Expense SOO 500 D Prepaid Advertising Advertising Expense 1,500 1,500 4 D 3
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