Question

Paid advertisement by cheque Rs 3000 journal entry

Answer 1

Advertisement exp Dr 3000

To bank A/c 3000

Explanation: advertisement exp is noimal exp and this exp paid by cheque this entry

Answer 2

Answer:

Advertisement Expense(Debit)   3,000

           To Bank Acc.(Credit)        3,000

(Being advertisement expenses paid)

Explanation:

Journal Entry:

• A journal entry is an act of recording any transaction, whether one is commercial or not.
• An accounting diary that displays the debit and credit balances of a corporation lists transactions.
• Multiple recordings, each of which is either a debit or a credit, may be included in the journal entry.

Advertisement Expenses:

• The term "advertising expense" describes the costs associated with promoting a business through channels including billboards, flyers, radio, television, the internet, and periodicals (newspapers and magazines).
• Advertising expenses must be reported as advertising expenses at the time the commercials are run since accountants are unable to estimate the benefits of the advertising in the future.
• A current asset account, such as Prepaid Advertising, should be used to record a prepayment of the cost of advertisements that will be broadcast in the future.
• The money must be moved from Prepaid Advertising to Advertising Expense after the advertisement airs.

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