A company received a bill of $2,110 for utilities used in the current month. The journal...

A company received a bill of $2,110 for utilities used in the current month. The journal entry to record this event: Multiple Choice will include a debit to Accounts Receivable for $2,110. will include a credit to Accounts Payable for $2,110. will include a credit to Utilities Expense. is not required; no journal entry should be prepared until the utilities bill is paid.

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Expert Solution

Solution:

The journal entry to record Utilities bill for current month:

Debit Utilities expense...........................$2110

Credit Accounts Payable.....................................$2110

Hence second option "will include a credit to Accounts Payable for $2,110" is correct.

ekkarill92 answered 1 year ago

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