Jose Consulting General Journal Entry for Utilities Payment

What transaction did Jose Consulting make for the current month?

Jose Consulting paid $660 cash for utilities for the current month. How will this transaction be recorded?

The general journal entry that Jose Consulting will make to record this transaction is:

Debit Utilities Expense $660;

Credit Cash $660.

Based on the information provided, Jose Consulting paid $660 in cash for utilities. To record this transaction in the general journal, the entry would be as follows:

Jose Consulting General Journal Entry for Utilities Payment

Debit: Utilities Expense $660

Credit: Cash $660

This journal entry indicates an increase in Utilities Expense (an expense account) and a decrease in Cash (an asset account) by $660 each.

In conclusion, the general journal entry that Jose Consulting will make to record this transaction is:

Debit: Utilities Expense $660;

Credit: Cash $660.

Recording transactions accurately in the general journal is crucial for maintaining proper financial records and transparency in accounting practices.