ABC Company must record a journal entry at year end that debits Utilities Payabl

Question

ABC Company must record a journal entry at year end that debits Utilities Payable and credits Cash ABC Company must record a journal entry at year end that debits Utilities Payable and credits Utilities Expense no adjustment is required at year end; the bill will be recorded when it is paid on Jan 8 ABC Company must record a journal entry at year end that debits Utilities Expense and credits Utilities Payable ABC Company must record a journal entry at year end that debits Utilities Expense and credits Cash

Explanation / Answer

Entry for recording the payment of utilities bills is

Utilities Expense Dr

To Cash

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