(Answered) Question - the johnny flowers law firm prepays for

Accounting

Question - The Johnny Flowers Law Firm prepays for advertising in the local newspaper. On January 1, the law firm paid $3,170 for six months of advertising. Johnny Flowers Law Firm recorded $3,170 in the Prepaid Advertising account.

Q1: If Johnny Flowers Law Firm had recorded their expenses using the other method, how much advertising expense would they have recorded for the two months ending February 28? Enter this value as a positive number.

Q2: Is it cash or accrual basis?

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