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the orange lily law firm prepays for advertising in the local newspaper. on january 1,...

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Accounting

The orange lily Law Firm prepays for advertising in the local newspaper. On January 1, the law firm paid $5,600 for seven months of advertising. How much advertising expense should orange lily Law Firm record for the two months ending February 28 under the a. cash basis? b. accrual basis? Question content area bottom Part 1 a. Under the cash basis, for the two months ending February 28, the law firm should record advertising expense of

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