Question
Early in 20X2, while the 20X1 books are still open, you are informed that 20X1 advertising expense includes $90,000 for printing catalogs for a campaign
Early in 20X2, while the 20X1 books are still open, you are informed that 20X1 advertising expense includes $90,000 for printing catalogs for a campaign to begin in January, 20X2 and that a $50,000 invoice 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 $50,000 B. A net credit to advertising expense of $40,000 C. A net credit to advertising expense of $90,000 D. A net credit to advertising expense of $140,000
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