Rocky Industries received its telephone bill in the amount of $300 and immediately paid it.Rocky's journal entry to record this transaction will include a
A)Debit to Telephone Expense for $300.
B)Credit to Accounts Payable for $300.
C)Debit to Cash for $300.
D)Credit to Telephone Expense for $300.
E)Debit to Accounts Payable for $300.

Question

Quizplus · Accepted Answer

The journal entry will include a debit to Telephone Expense for $300 to record the expense incurred and a credit to Cash for $300 to reflect the payment made.

Rocky Industries Received Its Telephone Bill in the Amount of $300