Pawn Shops Unlimited recorded the following four transactions during April. Which of these transactions would have the same income statement impact in April regardless of whether the company used accrual-basis or cash-basis accounting?

A) Received $600 from customers for services to be provided in May.

B) Paid $1,800 for a six-month insurance policy covering the period July 1—December 31.

C) Paid $700 for an advertisement that appeared in the April 17 edition of the Las Vegas Sun newspaper.

D) Received $300 from customers for services performed in March.

Ch3 answer: C