Question

Question 9 At the end of the quarter, a company did an adjusting entry to record the fact that $1,000 of Prepaid Advertising had been used up during the quarter. Which of the following items would be increased by this advertising adjusting entry? (check all that apply) 1 point Net Income Cash Cost of Goods Sold Prepaid Advertising SG&A Expense

Answer 1

Sg&a expense

Step-by-step explanation:

When you use up insurance, you debit advertising expense and credit prepaid advertising.

‘you don’t increase income since it’s an expense

it shouldon’t go thru cost of goods sold

you reduce not increase prepaid advertising