posted by .

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?

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Urgent Help In Accounting

    January 1, 2008 Timber Company incorporated in the State of Pennsylvania. Initially it issued stock to three stockholders, Bob, Jim, and Frank. Each paid $50,000 (50,000 shares-- $.25 par value per share) for the stock. The Company¡¯s …
  2. accounting

    Victor has two employees who each get paid $150/day. December 31st is a Wednesday. These two employees will not be paid until Friday, January 2nd. How much do i debit to salary expense and how much do i credit to salary payable?
  3. accoutning

    What do you debit and credit for the following transactions?
  4. accounting

    how would the table of analysis be set up with these transactions: started business with $25,000 paid rent $2,000 purchased equipment $6,000 only paid 40% owes difference purchased food and beverage $4,000 paid 75% in cash owes difference …
  5. Accounting

    Please prepare the following journal entries. Indicate which account should be debited and which account should be credited along with the dollar amount of the debit and credit. a) Investors invested $100,000 in exchange for 10,000 …
  6. principle of accounting

    raper Consulting began operations and completed the following transactions during the first half of December: Dec 2   Received $18,000 cash and gave capital to Draper. 2   Paid monthly office rent, $550. 3   Paid cash for a Dell …
  7. accounting

    The journal entry to record the withdrawal of cash by Sue Snow, the owner, to pay a personal utility bill would include a debit to __________ and a credit to __________.
  8. Account

    Use the following identification codes to indicate the effects of each transaction on the accounting equation: I = Increase; D = Decrease; NE = No Effect. Write your answers in the space provided under the accounting equation, being …
  9. Accounting

    Inventory as of Nov. 30th, 2010, consists of 20 bikes costing $550 each. Balance Sheet: Nov. 30th 2010. Cash-9150 Debit Accounts Receivable-12300 Debit Inventory-11000 Debit Supplies-900 Debit Office Equipment-18000 Debit Accumulated …
  10. Accounting

    On December 1,2016, AJNB Company commences its operation. The following transactions occured for the month of December 2016. a.) Dec.1 The owner invests 1,000,000 to start the operation of the business b.) Dec.1 Paid rent in advance …

More Similar Questions