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Determine what the proper adjusting entry is

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Reference no: EM132483758

Point 1: During the current accounting period, Malibar Farms Company paid $2,000 for advertising services in advance of receiving them. Prepaid Advertising was debited and Cash was credited for $2,000. An the end of accounting period, three-fourths of the services paid for had been received.

Question 1: What The proper adjusting entry is?

Reference no: EM132483758

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