When a Bill Is Entered Using the Enter Bills Window,QuickBooks

question 6

Multiple Choice

When a bill is entered using the Enter Bills window,QuickBooks records a journal entry that:

• A)Debits Checking account,Credits Expense account
• B)Credits Expense account,Debits Checking account
• C)Debits Expense account,Credits Accounts Payable
• D)Debits Accounts Payable,Credits Checking account

---

Definitions:

Trustee

An individual or organization that holds and administers property or assets for the benefit of a third party.

Balance Sheet

A financial statement that provides a snapshot of a company's financial condition at a specific moment in time, detailing assets, liabilities, and equity.

Statement of Realization

A financial report detailing the results of disposing of assets and settling liabilities in the context of liquidation.