Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby

Exercise 10

Assume a company receives a bill for $10,000 for advertising done during the current year. If this bill is not yet recorded at the end of the year, what will the adjusting journal entry include
A) Debit to Advertising Expense of $10,000.
B) Credit to Advertising Expense of $10,000.
C) Debit to Accrued Liabilities of $10,000.
D) Need more information to determine.