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When a business receives an unpaid electricity account, it should: debit Accounts Payable and credit Electricity Expense make no entry until the bill is paid
When a business receives an unpaid electricity account, it should:
debit Accounts Payable and credit Electricity Expense | ||
make no entry until the bill is paid | ||
debit Electricity Expense and credit Accounts Receivable. | ||
debit Electricity Expense and credit Accounts Payable |
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