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June 04, 2024, 08:24:05 am
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Author Topic: Prepaid expense or not?  (Read 486 times)  Share 

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Random_Guy

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Prepaid expense or not?
« on: November 09, 2011, 09:48:34 pm »
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On July 1, the business paid $100 of advertising for July. Now would that be recorded in the Cash Payments Journal as Prepaid Advertising Expense or Advertising Expense?
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nacho

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Re: Prepaid expense or not?
« Reply #1 on: November 09, 2011, 09:59:07 pm »
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pretty sure its a prepaid advertising expense. cause although its in the same month, you havent used it yet.
dont take my word on it though.
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