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Which of the following is the correct adjusting entry to accrue utilities expense of $860 used but not paid yet? 1. Debit Cash for $860
Which of the following is the correct adjusting entry to accrue utilities expense of $860 used but not paid yet?
1. Debit Cash for $860 and credit Utilities expense for $860
2. Debit Utilities expense for $860 and credit Accounts payable for $860
3. Debit Utilities expense for $860 and credit cash for $860
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