Double entry accounting requires all of the following for a journal entry EXCEPT: Multiple Choice The accounting equation must be in balance, Total debits must equal toral credits. At least two accounts from the chart of accounts must be included. There must be at least one debit line and at least one credit line. Net income must be impacted The adjusting entry to record an electricity bill recelved but not yet paid would be: Multiple Choice Debit Utiities expense, Credit Cash Debit Unpard utiities; Credit Utilities bill payable Debit Utilites expense: Credit Accounts payable. Debit Cash; Credit Utilities expense. Debit Utility bill received; Credit Utility bill payable. How does the following independent transaction affect the accounting equation for ABC Company: On June tof the current year, paid $50,000 of rent in advance for October through December Mulniple Choice Assets decrease; no effect on habilities; and owner's equity increases No effect on assets; no effert on liabilities, and no effect on owner's equity Assets decrease; liabilities increase; and no effect on owner's equity Assets decrease; no effect on liabilities, and no effect on owner's equity