When You Record the Telephone Bill to Be Paid at a Later

question 67

Short Answer

When you record the Telephone Bill to be paid at a later date, in the Journal QuickBooks Online enters a_______to an Expense Account and a _______to Accounts Payable.

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Definitions:

Flooding

An overflow of water that submerges land that is usually dry, usually caused by heavy rainfall or other hydrological phenomena.

Price Restrictions

Regulations or limitations placed on the pricing of goods and services, often to control inflation or protect consumers.

Excess Demand

Excess Demand occurs when the quantity demanded of a good or service exceeds its quantity supplied at a particular price.

Government Intervention

Actions taken by a government to influence or directly regulate the economy, markets, or specific industries, often to correct market failures or promote social welfare.