The journal entry Debit telephone bill, credit Accounts payable iscorrect for which of the following transactions?a.The business received the telephone billb. The business paid the telephone bill for the current monthThe business received the telephone bill and it will be paidlaterO d. The business sent the telephone bill to the customer.

Correct Answer :- C Business Received telephone bill and it will be paid later.

Answered: Debit telephone bill, credit ACcounts…

Business

Accounting

Debit telephone bill, credit ACcounts payable is

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter2: T Accounts, Debits And Credits, Trial Balance, And Financial Statements

Section: Chapter Questions

Problem 3E: R. Dalberg operates Dalbergs Tours. The company has the following chart of accounts: Using the chart...

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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

The journal entry Debit telephone bill, credit Accounts payable is
correct for which of the following transactions?
a.
The business received the telephone bill
b. The business paid the telephone bill for the current month
The business received the telephone bill and it will be paid
later
O d. The business sent the telephone bill to the customer.

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