Question

read the requirement. (record debits first, then credits. select the explanation on the last line of the journal entry table ) may 21 paid $100 for advertising in next months it technology magazine. date accounts and explanation debit credit may 21

Explanation:

Step1: Identify the debit account

The payment is for advertising that will be used next month, so we debit Prepaid Advertising (an asset account) to record the prepayment.
Debit: Prepaid Advertising, Amount: $100

Step2: Identify the credit account

Since cash is paid out, we credit Cash (an asset account) to show the decrease in cash.
Credit: Cash, Amount: $100

Step3: Provide the explanation

The last line explains the transaction: Paid for advertising in next month's IT Technology magazine.

Answer:

Date	Accounts and Explanation	Debit	Credit
May 21	Cash		100
May 21	Paid for advertising in next month's IT Technology magazine