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Question 25 (1.5 points) The Matisse Co. received the utility bill in April that will be paid in May. Assume the accrual basis of accounting,
Question 25 (1.5 points) The Matisse Co. received the utility bill in April that will be paid in May. Assume the accrual basis of accounting, the journal entry the Matisse Co. will prepare in April would include a O Debit to Accounts Payable and a credit to Utility Expense. O Debit to Utility Expense and a credit to Accounts Payable. Debit to Accounts Payable and a credit to Utility Expense. Debit to Utility Expense and a credit to Accounts Receivable. No journal would be prepared until May. Question 26 (1.5 points) On January 1, 2019 and the Matisse Co. began the year with $1,000 cash. During the month of January, the Matisse Co. made one deposit in the Cash account for $6,000 and made one cash payments totaling $800. The ending balance in the account "Cash" would be $6,200 credit balance. $5,200 debit balance. $5,200 credit balance. $6,200 debit balance
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