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Online Service Received Its Telephone Bill for January, but Is

Question 49

Multiple Choice

Online Service received its telephone bill for January, but is not going to pay the bill until February. What adjustment is needed to record the transaction?


A) Debit Telephone Expense; credit Cash
B) Debit Accounts Payable; credit Telephone Expense
C) Debit Telephone Expense; credit Accounts Payable
D) Debit Accounts Payable; credit Cash

Correct Answer:

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