On Dec 28th Victor received the Utility bill for the month of December. He has not yet paid it but plans to pay it on January 5th. It was for $280. What do i debit and credit to utility expense and utilities?

Answer 1

i think you debit the utilitie expense and credit cash because you are going to pay cash, which cash is decreasing so it goes on the credit side.

Answer 2

thanks would i debit $280?