Which of the Following Journal Entries Correctly Records the Receipt

question 66

Multiple Choice

Which of the following journal entries correctly records the receipt of a utility bill,which will be paid for in later weeks?

---

Definitions:

Ancillary Bailee

An individual or entity that is temporarily entrusted with someone else's property for a specific, ancillary service, without transfer of ownership.

Surety

A person or entity that takes responsibility for another's performance of an undertaking, such as fulfilling a contract.

Debt

An obligation to repay borrowed money or goods at a later date, often involving interest fees.

Payment

The transfer of money, goods, or services from one party to another as fulfillment of an obligation or settlement of a debt.