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On December 1, 2022, Greenery Co. prepaid for a 36-month advertising campaign that went into effect on December 1, 2022. Greenery's accountant debited the entire
On December 1, 2022, Greenery Co. prepaid for a 36-month advertising campaign that went into effect on December 1, 2022. Greenery's accountant debited the entire amount of $36,000 to Advertising Expense. Greenery's fiscal year end is December 31st. You are examining the Advertising Expense account and note that it is incorrect. What should be the correct balance in the Advertising Expense account for December 31, 2022? A) $35,000 B) $1,000 C) $36,000 D) $2,000 E) None of the above
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