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How much is advertising expense to be recorded

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Problem 1: Mr. Pamath, an Indian Businessman based in the Philippines, owns a grocery store. To boost his store's sales, Mr. Pamath contracted with an advertising agency. Under the terms of their agreement, which was signed April 1, 2011. Php 600,000 advertising fee is to be charged during the first year of the agreement. Equally distributed during the course of the year. How much is advertising expense to be recorded by Mr. Pamath for the year ended December 31, 2011?

Reference no: EM132814222

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