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On December 1, 2019, a firm signed a contract with a local radio station for advertising that will extend over a two-year period. The firm

  1. On December 1, 2019, a firm signed a contract with a local radio station for advertising that will extend over a two-year period. The firm paid $36,000 in advance and debited the amount to Prepaid Advertising. What adjustment should be made to record expired advertising on the firms December 31, 2019, worksheet?

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