QUESTION 2 A company received a bill for newspaper advertising services, $400. The bill will be paid in 10 days. How would the transaction be recorded today? O Debit Advertising Expense $400, credit Accounts Payable $400. O Debit Accounts Payable $400, credit Advertising Expense $400. O Debit Accounts Payable $400, credit Cash $400. O Debit Advertising Expense $400, credit Cash $400. QUESTION 3 A company receives a $50,000 cash deposit from a customer on October 15 but will not provide services until November 20. Which of the following statements is true? O The company records service revenue on October 15. O The company records cash collection on November 20. O The company records deferred revenue on October 15. O The company records nothing on October 15