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accounting

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On Dec 28th Victor received the Utility bill for the month of December. He has not yet paid it but plans to pay it on January 5th. It was for $280. What do i debit and credit to utility expense and utilities?

  • accounting - ,

    i think you debit the utilitie expense and credit cash because you are going to pay cash, which cash is decreasing so it goes on the credit side.

  • accounting - ,

    thanks would i debit $280?

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