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The balance in the Prepaid Advertising Account on October 1st for Modern Company was $4,500. On December 1st it renewed its advertising and promotion contract
The balance in the Prepaid Advertising Account on October 1st for Modern Company was $4,500. On December 1st it renewed its advertising and promotion contract with the Direct Sale TV channel for 3 more months for a total price of $6,780. The payment in full will be made on January 5th. Modern Company's accounting period ends on December 31st.
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