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What should be mars advertising expense for year

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Reference no: EM132625203

At December 31, 2017, the Mars Company had a P990,000 balance in its Advertising Expense account before any year-end adjustments relating to the following: ·

  1. Radio advertising spots broadcast during December 2017 were billed to Mars on January 4, 2018. The invoice cost of P50,000 was paid on January 15, 2018. ·
  2. Included in the P990,000 is P60,000 for newspaper advertising for a January 2018 sales promotional campaign.

Question 1: What should be Mars advertising expense for year ended December 31, 2017?

Reference no: EM132625203

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