Question

On November 30, the company received an invoice from the electric company for $200. The company will pay the invoice in December. Complete the necessary journal entry by selecting the account names from the pull-down menus and entering dollar amounts in the debit and credit columns.

Answer 1

Answer:

Utility expense Dr.                      $200

  Accounts payable Cr.                $200

(To record the entry for electric expense)

Explanation:

Given the amount of the invoice = $200

The expenses like Electricity expenses come under utility expenses so the incurred electricity expense will show that the utility expenses are debited and account payable is credited. Here the account payable is credited because the is not paid.

Thus, below is the entry as on 30th November.

Utility expense Dr.  $200

  Accounts payable Cr.    $200

(To record the entry for electric expense)