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If someone bought advertising space on September 1 and the cost was 4575 for 5 months what would be the journal entry for September 1?
* Debit Advertising Expense for 915 (4575/5)
* Debit Prepaid Advertising (Asset) for 3660 (4575 - 915) * Credit Accounts Payable for 4575
What else can I help you with?
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