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Question: on november 1 2016 a company using accrual accounting pays...

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On November 1, 2016, a company using accrual accounting, pays $720,000 for a television advertising campaign. Commercials will run evenly over six months beginning on November 1, 2016. How much Advertising Expense will be reported on an income statement prepared for the year ended December 31, 2017?

A. $720,000

B. $480,000

C. $240,000

D. $360,000

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