The journal entry Debit telephone bill, credit Accounts payable iscorrect for which of the following transactions?a.The business received the telephone billb. The business paid the telephone bill for the current monthThe business received the telephone bill and it will be paidlaterO d. The business sent the telephone bill to the customer.

Correct Answer :- C Business Received telephone bill and it will be paid later.

Answered: Debit telephone bill, credit ACcounts…

Business

Accounting

Debit telephone bill, credit ACcounts payable is

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter8: Receivables

Section: Chapter Questions

Problem 21E: Entries for notes receivable The series of five transactions, (a) through (e), recorded in the...

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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

The journal entry Debit telephone bill, credit Accounts payable is
correct for which of the following transactions?
a.
The business received the telephone bill
b. The business paid the telephone bill for the current month
The business received the telephone bill and it will be paid
later
O d. The business sent the telephone bill to the customer.

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