Early in 20X2, While the 20X1 books are still open, you are informed that 20X1 Advertising Expense
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Question:
Early in 20X2, While the 20X1 books are still open, you are informed that 20X1 Advertising Expense includes $90000 for printing catalogs for a campaign to begin in January, 20X2 and that a $50000 invoices for television commercials shown in December, 20X1 was debited to 20X2 Advertising Expense.
The correcting Entry to record as of December 31, 20X1 is.....
A.) a net debit to Advertising Expense of $50000 B.) a net credit to Advertising Expense of $40000 C.)a net credit to Advertising Expense of $90000 D.)a net credit of Advertising Expense of $140000
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