The transaction for the bill for newspaper advertising services will be recorded today as a debit to Advertising Expenses and a credit to Accounts Payable (Advertising Payable).
An accrued expense refers to an incurred outgoing that the service has been enjoyed previously and payment is due later.
According to the matching principle and accrual concept of generally accepted accounting principles, all expenses incurred within a financial period must be recognized in that period whether cash has been exchanged or not.
Thus, the transaction for the bill for newspaper advertising services will be recorded today as a debit to Advertising Expenses and a credit to Accounts Payable (Advertising Payable).
Learn more about recording accrued expenses at https://brainly.com/question/14524895
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