WASHINGTON (AP) — Democratic presidential nominee Barack Obama reports spending more than $53 million in August and ends the month with $77 million in the bank.

Obama outraised and outspent Republican rival John McCain, according to reports filed Saturday with the Federal Election Commission. McCain reports raising $47 million to Obama's $65 million. McCain spent $41 million in August.

Advertising accounted for more than half of each campaign's expenditures. Most of that money was spent in about a dozen states considered crucial to win the presidential contest.

Together, both campaigns spent nearly $94 million in August, a record rate of $3 million a day.