The company received a bill from the Utilities Company in the amount of P50,000 for gas and electricity used by EDNA Co. during 1997. Only 4/5 of this entire amount has been paid while the remaining bill will not be settled until January 1998. Cash -40,000 Acc. Util. Payable +10,000 Utilities Exp. +50,000 Cash -10,000 Acc. Util. Payable +40,000 Utilities Exp. +50,000 None of the choices Acc. Util. Payable +50,000 Utilities Exp. +50,000 Cash-40,000 Utilities Exp. +40,000