Hesson Properties, Inc -Refer to the Figure Hesson Properties,Inc $\begin{array}{l}\text { Utilities expense }&300 \\\text { Cash }&&300\end{array}$

question 199

Multiple Choice

Hesson Properties, Inc.The following transactions occurred during June:
$\begin{array}{ll}\text { June 1 } & \text { The company purchased two new maintenance carts on account at } \$ 750 \text { each. } \\&\text { Payment is due in } 30 \text { days. } \\\text { June } 8 &\text { The company accepted } \$ 500 \text { of advance payments from customers for service } \\&\text { to be provided next month. }\\\text { June } 15 & \text { The company received the utility bill for } \$ 300 \text {. Payment is due in } 30 \text { days. } \\\text { June } 20 & \text { The company billed customers } \$ 1,500 \text { for services provided. Payment is due in } \\&\text { 30 days. }\\\text { June } 30 & \text { The company received } \$ 500 \text { from customers who were billed earlier. }\end{array}$
-Refer to the figure Hesson Properties,Inc.Which journal entry is required to record the utility bill?

• A)
• \(\begin{array}{l}
• \text { Utilities expense }&300 \\
• \text { Cash }&&300
• \end{array}\)
• B)
• \(\begin{array} { l }
• \text { Accounts receivable } &300\\
• \text { Utilities expense }&&300
• \end{array} \)
• C)
• \(\begin{array}{l}
• \text { Utilities expense }&300 \\
• \text { Accounts payable }&&300
• \end{array}\)
• D)
• \(\begin{array}{l}
• \text { Cash } &300\\
• \text { Utilities expense }&&300
• \end{array}\)

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Definitions:

Optimal Solution

The most efficient and effective answer to a problem, maximizing or minimizing the desired variables within constraints.

Supply Unused

Resources or products that have not been consumed or utilized within a given period, often leading to inefficiencies or increased costs.

Degeneracy

An occurrence in transportation models in which too few squares or shipping routes are being used, so that tracing a closed path for each unused square becomes impossible.

Occupied Squares

A term not standardized in general application, potentially referring to filled or used spaces in specific contexts, but otherwise considered NO.