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Joanne is part of the accounts payable team at a local furniture store, responsible for recording invoices received by the business and payments made by
Joanne is part of the accounts payable team at a local furniture store, responsible for recording invoices received by the business and payments made by the business. The furniture store receives an invoice for internet usage for the amount of $ The invoice states that payment is due in days, therefore Joanne records the transaction accordingly and sets a calendar reminder to pay on the due date.
Based on this information, the journal entry in the furniture store's accounting system would include:
Group of answer choices
DR Internet expense; CR Cash
DR Internet expense; CR Accounts payable
DR Cash; CR Internet expense
CR Accounts payable; DR Internet expense
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