QQuestionAccounting
QuestionAccounting
Owner paid $250 in advertising costs to the local paper. how is this recorded in a journal?
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Answer
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Step 1: First, we need to identify the accounts involved in this transaction.
In this case, there are two accounts: Advertising Expense (an expense account) and Cash (an asset account).
Step 2: Next, we record the transaction in a journal, using the following format:
| | Cash | | $$250$$ |
| Date | Account Title | Debit | Credit | | --- | --- | --- | --- |
Final Answer
| Date | Account Title | Debit | Credit | | --- | --- | --- | --- | | [Insert date] | Advertising Expense | 250 | | | | Cash | | 250 |
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