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The Company will have an advertising campaign for 3 years requiring it to pay a lump sum of $30,000 for putting up an advertisement

The Company will have an advertising campaign for 3 years requiring it to pay a lump sum of $30,000 for putting up an advertisement in the Ming Weekly Media commencing 1 January in 2008. (i) (ii) What would be the journal entry on 1 January 2008? Show the appropriate adjusting entries for the year ended 31 December for 2008 and in 2009? Answers:

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