Question
in early 2012, while the 2011 books are still open, you are informed that 2011 Advertising Expense includes $90,000 for printing catalogs for a campaign
in early 2012, while the 2011 books are still open, you are informed that 2011 Advertising Expense includes $90,000 for printing catalogs for a campaign to begin in January, 2012 and that a $50,000 invoice for television commercials shown in December, 2011 was debited to 2012 to Advertising Expense, what is the correct entry to record as of December 31, 2011
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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