A manufacturing company received its water bill for the month of December on December 31,...
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Accounting
A manufacturing company received its water bill for the month of December on December 31, 2020. The $8,000 bill represents the cost of water used during December. The bill will be paid on January 15, 2021. The adjusting entry as of December 31, 2020 will include which of the following? Question 9 options:
Credit to cash, $8,000 Credit to utilities expense, $8,000 No adjusting entry is required as the bill will be paid in January, 2021 Credit to utilities payable, $8,000
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