Multiple Choice
When a company receives a utility bill but will not pay it right away, it should
A) debit Utilities Expense and credit Accounts Receivable.
B) debit Utilities Expense and credit Accounts Payable.
C) debit Accounts Payable and credit Utilities Expense.
D) make no entry until the bill is paid.
Correct Answer:
Verified
Correct Answer:
Verified
Q133: Source documents can provide evidence that a
Q185: Budke Corporation paid dividends of $5,000.As a
Q186: The primary purpose of the trial balance
Q187: Equipment costing $20,000 is purchased by paying
Q189: If a company issues common stock for
Q191: At December 1, 2022, Orear Company's Accounts
Q192: At September 1, 2022, Kern Enterprises reported
Q193: A company that receives money in advance
Q194: The payment of a liability<br>A)decreases assets and
Q195: When a company performs a service but