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Create a General Journal entry in accordance with GAPP and using the periodic inventory system and the net method for the following entries; Dec 20:
Create a General Journal entry in accordance with GAPP and using the periodic inventory system and the net method for the following entries; Dec 20: Received the December utilities bill for the amount of $6,000. The bill will be paid in January of next year. Special note: Credit the Utilities Payable account for the balance owed.
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Heres the general journal entry according to GAAP using the periodic inventory system ...
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Intermediate accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
7th edition
978-0077614041, 9780077446475, 77614046, 007744647X, 77647092, 978-0077647094
