Invoices received from various companies are for costs incurred that will be paid later, does this mean credit to accounts payable and a debit to revenue
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Invoices received from various companies are for costs incurred that will be paid later, does this mean credit to accounts payable and a debit to revenue
You will Debit the appropriate Expense accounts i.e. Utilities Explense or Phone Expense and Credit Accounts Payable.
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