Lang Company owes $50,000 in utilities at Dec 31, but the invoice has not been received or paid by the company at Dec 31. What journal entry needs to be made for these utilities at Dec 31st?

		No entry needs to be made since the invoice has not been received
		Debit Utilities Expense $50,000 and Credit to Accounts Payable $50,000
		Debit Accounts Receivable $50,000 and Credit to Accounts Payable $50,000
		Debit Utilities Expense $50,000 and Credit to Accounts Receivable $50,000
		Assets, $50,000 decrease; equity $50,000 decrease.