During the month of October,Ford advertised on the Internet.Ford received the bill for $600 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.

Question

Quizplus · Accepted Answer

The correct entry in November is to debit Accounts Payable and credit Cash, as the expense was already recorded in October when the bill was received.

During the Month of October,Ford Advertised on the Internet