Multiple Choice
When a company receives an electric bill but does not pay it right away,what is the required journal entry to be recorded?
A) Utilities Expense - Debit; Accounts Receivable - Credit
B) No entry is required until the bill is paid.
C) Utilities Expense - Debit; Accounts Payable - Credit
D) Accounts Payable - Debit; Utilities Expense - Credit
Correct Answer:
Verified
Correct Answer:
Verified
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