Question

$300 utilities bill and immediately paid it. general journal entry to record this transaction will include a:

Answer 1

Answer:

E. Debit to Utilities Expense for $300.

Explanation:

The journal entry to record the given transaction is shown below

Utilities expense Dr $300

           To cash $300

(Being cash paid is recorded)

For recording this we debited the utilities expense and credited the cash as it increased the expenses and decreased the assets in order to posting it correctly

Therefore it would be debited to utilities expense