# Amalia Company received its utility bill for the current period of $700 and immediately paid it. Its journal entry to record this transaction includes a a. Credit to Utility Expense for$700. b. Debit to Utility Expense for $700. c. Debit to Accounts Payable for$700. d. Debit to Cash for $700. e. Credit to capital for$700.

Question

Amalia Company received its utility bill for the current period
of $700 and immediately paid it. Its journal entry to record this transaction includes a a. Credit to Utility Expense for$700.
b. Debit to Utility Expense for $700. c. Debit to Accounts Payable for$700.
d. Debit to Cash for $700. e. Credit to capital for$700.

## Expert Answer

### Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

*Response times may vary by subject and question complexity. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers.
Tagged in
Business
Accounting