Russell Co. received a $900 utility bill for the current month's electricity. It is not due until the end of the next month which is when they intend to pay it. Which of the following general journal entries will Russell Co. make to record the receipt of the bill?
A.
| Utilities Expense | 900? | |
| Accounts Payable | 900? |
B.
| Utilities Expense | 900? | |
| Accounts Receivable | 900? |
C.
| Accounts Payable | 900? | |
| Utilities Expense | 900? |
D.
| Cash | 900? | |
| Utilities Expense | 900? |
E. No journal entry is required
Answer: A
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