Q1: For which account below, a debit will decrease the account balance: JSEP A. Inventory B. Depreciation expense C. Accounts payable D. Prepaid rent E. Cost of goods sold Q2: Suppose a company paid $150,000 for utilities to El Paso Electric Company during the year and you determine that there were $12,000 and $18,000 in utilities payable at the beginning and end of the year, respectively. What was utility expense for the year? A. 120,000 B. 144,000 C. 156,000 D. 180,000 E. 182,000