Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 42 - No. 19)
What is the journal entry for a business paying cash for advertising expense?
Debit Cash, Credit Advertising Expense
Debit Advertising Expense, Credit Cash
Debit Accounts Payable, Credit Cash
Debit Cash, Credit Accounts Payable
Explanation
Paying advertising expenses increases advertising expense (debit) and decreases cash (credit).
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