Question: What is the correct double entry for an electricity prepayment of 500? A Debit: prepayment 500 Credit: expense 500 B Debit: expense 500 Credit: prepayment

What is the correct double entry for an electricity prepayment of £500?

A Debit: prepayment £500 Credit: expense £500 B Debit: expense £500 Credit: prepayment £500

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