mcdonalds corporation runs advertisement in fiscal 2019 if these advertisements will be paid for 2020 mcdonald's should make the following journal entry in 2019

ERS Multiple Choice (3 points each - 48 points total) Indicate the best answer to each question on your scantron sheet. The answers on your scantron are what will be graded, so please be careful with your recording. Se may McDonalds Corporation runs advertisements in fiscal 2019. If these advertisements will be paid for in fiscal 2020, McDonalds should make the following journal entry in fiscal 2019: 1. DOE MCRV22 Dr. Prepaid Advertising and Cr. Cash. . Dr. Advertising Expense and Cr. Prepaid Advertising. c. Dr.Advertising Payable and Cr. Cash. Dr.Advertising Expense and Cr. Advertising Payable. b. bim ad olveded d. Use the following information from The GAP Inc.'s recent Balance Sheet and Income Statement to answer the next two questions. Note that Prepaid rent and advertising will be used up within 1 year. GAP (in millions) (in millions) Account 2,131 Account Inventory 2.150 2,322