When paying an electric bill which ledger will I post the payment to?
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When paying an electric bill which ledger will I post the payment to?
It depends, if you have not posted it yet if not, debit the utilities Expense and credit the bank if you have posted it it will be a debt to accounts payable and credit to the bank.
It will be debit or credit in ledger which the payment is already made.
Debit Utilities Expense for the amount paid
Credit Cash for the amount paid
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