On October 31,a business pays $1,500 cash for television ads that appeared during October.Which of the following accounts is debited?

Question

Quizplus · Accepted Answer

The account that should be debited is Advertising Expense since the payment made is for the television ads that appeared during October. Therefore, the correct answer is D - Advertising Expense.

The option A, Cash would be credited since cash is going out of the business. Option B, Accounts Payable would be credited if the business owed money to a vendor for the television ads, which is not the case. Option C, Prepaid Advertising would be debited if the business paid in advance for television ads that will appear in future months.

On October 31,a Business Pays $1,500 Cash for Television Ads