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Financial Accounting

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Adjusting Entries: Accrued Expenses

FINACT-IT$YUW

Which of the following is the appropriate entry on a company’s books to record the subsequent payment for utilities services that the company has previously received and recorded in a prior month?

A

Utilities Expense . . . \$XXXX

Accounts Payable . . . \$XXXX

B

Utilities Expense . . . \$XXXX

Cash . . . \$XXXX

C

Cash . . . \$XXXX

Accounts Payable . . . \$XXXX

D

Accounts Payable . . . \$XXXX

Cash . . . \$XXXX