Printing catalogs for a sales promotional campaign

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Frack Co.'s advertising expense account had a balance of $146,000 at December 31, 2014, before any necessary year-end adjustment(s) relating to the following:

Included in the $146,000 is the $15,000 cost of printing catalogs for a sales promotional campaign being held in January 2015.

Radio advertisements broadcast locally during December 2014 were billed to Frack on January 2, 2015. Frack paid the $9,000 invoice on January 11, 2015. Frack had not received this invoice yet before it preliminary closed it's books at December 31, 2014.

What, if any, required general journal adjusting entries are needed in order for the correct advertising expense to be reported in Frack Co.'s income statement for the year ended December 31, 2014.

Reference no: EM131737545

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