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On 1 January 2018, a company had electricity bills payable of $10,000. During the year, the office made payments for electricity of $112,000 and at

On 1 January 2018, a company had electricity bills payable of $10,000. During the year, the office made payments for electricity of $112,000 and at 31 December 2018, it owed electricity bills of $14,000. Calculate the electricity expense shown in the Financial Statements for the year 2018.

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