Multiple Choice
A company received a bill of $3,500 for utilities used in the current month.The journal entry to record this event:
A) will include a debit to Accounts Receivable for $3,500.
B) will include a credit to Accounts Payable for $3,500.
C) will include a credit to Utilities Expense.
D) is not required; no journal entry should be prepared until the utilities bill is paid.
Correct Answer:

Verified
Correct Answer:
Verified
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