Advantage plugged by pope rejecting an alcoholic drink (7)
I believe the answer is:
bourbon
'alcoholic drink' is the definition.
(I know that Bourbon is a type of American whiskey)
'advantage plugged by pope rejecting an' is the wordplay.
'advantage' becomes 'boon' (both can mean a benefit or asset).
'plugged by' indicates putting letters inside (plug can mean to block up a gap).
'pope' becomes 'urban' (there have been several Pope Urbans).
'rejecting' indicates named letters should be taken away.
'urban' with 'an' taken away is 'urb'.
'boon' going around 'urb' is 'BOURBON'.
(Other definitions for bourbon that I've seen before include "Rye whisky; biscuit" , "American whisky; biscuit" , "Corn whiskey" , "Whiskey - biscuit" , "Rye whiskey" .)