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artcher [175]
3 years ago
9

Russell Co. received a $520 utility bill for the current month's electricity. It is not due until the end of the next month whic

h is when they intend to pay it. What is the general journal entries will Russell Co. make to record the receipt of the bill?
Business
1 answer:
nekit [7.7K]3 years ago
5 0

Answer:

Journal Entry to reflect the event is as follow;

                                  Dr.       Cr.

Utility Expense       $520

Utility bill payable              $520

Explanation:

Utility bill is received it means the expense is accrued and it is not due until the month end so a liability will be created and will be paid next month.

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Options for this question include:

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<em>Find out more at brainly.com/question/14805575. </em>

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