To record the electricity expenses paid for $450 in cash, following is the entry:Debit Electricity expenses for $450Credit Cash for $450
Question
Solution 1
Yes, you are correct. In accounting, to record the electricity expenses paid for $450 in cash, the entry would be:
Debit: Electricity expenses for 450
This is because when you pay for an expense, the expense account (Electricity expenses) is debited, indicating an increase i Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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