During the Month of October, Ford Advertised on the Internet

question 36

Multiple Choice

During the month of October, Ford advertised on the Internet. Ford received the bill for $500 in October, but waited until November to pay the advertising expense. The journal entry to record the payment in November is:

• A) Accounts Payable, debit; Cash, credit
• B) Advertising Expense, debit; Accounts Payable, credit
• C) Advertising Expense, debit; Cash, credit
• D) The journal entry is not made in November.

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Definitions:

Legal Proceedings

The process of taking legal action in a court of law.

Personal Information

Details or data about an individual that can include biographical, financial, or other personal facts, often protected for privacy.

Privilege

denotes a set of unearned advantages, rights, or immunities that a person or group is granted based on certain societal norms, often at the expense of others.

Mutual Understanding

A shared sense of meaning or agreement between parties or individuals.