Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A company receives their August 2022 utility bill on August 31,2022 but will not pay the bill until September 5, 2022. What journal entry is

image text in transcribed
A company receives their August 2022 utility bill on August 31,2022 but will not pay the bill until September 5, 2022. What journal entry is needed August 31, 2022? debit Utilities Expense and credit Accounts Receivable. debit Utilities Expense and credit Accounts Payable. debit Accounts Payable and credit Utilities Expense, make no entry until the bill is paid

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Control Systems

Authors: Frank G.H. Hartmann Professor, Kalle Kraus, Göran Nilsson, Robert N. Anthony, Vijay Govindarajan

2nd Edition

1526848317, 978-1526848314

More Books

Students also viewed these Accounting questions

Question

=+Identify the key components of a strategic plan

Answered: 1 week ago