Paid the electricity bill for the previous 3 months of $1650, it has expenses when...
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Accounting
Paid the electricity bill for the previous 3 months of $1650, it has expenses when the bill was received...
On a t-account do I post:
Utilities payable 165000
Cash at bank 16500
or
Utilities expense 16500
Cash at bank 16500 utilities
Essentially is it payable account or utilities expense account????
Thanks
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