On October $1,$ Lee Company paid $$4,800$ for one year of advertising, in advance. Lee Company recorded the transaction by debiting Prepaid Advertising and crediting Cash.

Required:

Journalize the adjusting entry on December $31.$

Note: Assume that the advertising is used evenly throughout the year.

$\backslash$table$[[$Date$,$Account Title,Debit,Credit,$],[$Dec$.,31,,,,],[,,,,,],[,,,,,],[,,,,,]]$