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The Silver Legal Services Company made a payment of $18,000 as an advanced payment for one year of advertising on October 31. Silver's year-end is
The Silver Legal Services Company made a payment of $18,000 as an advanced payment for one year of advertising on October 31. Silver's year-end is December 31st. If they company recorded the original transaction with a debit to Prepaid Advertising account on October 31, the adjusting entry on December 31 should: Debit what account? (Select] Credit what account? Select] Be for what dollar amount? $ [Select] If they company recorded the original transaction with a debit to Advertising Expense account on October 31, the adjusting entry on December 31 should: Debit what account? Select] Credit what account? [Select] Be for what dollar amount? $ [Select]
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