Answered: You pay your business phone bill paying…

You pay your business phone bill paying cash. How would you record this transaction? * O Debit Bank, Credit Phone Expense O Debit Phone Expense, Credit Bank ODebit Phone Expense, Credit 0.E.

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter10: Financial Statements And Reports

Section: Chapter Questions

Problem 4.4C

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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

You pay your business phone bill paying cash. How would you record this
transaction? *
O Debit Bank, Credit Phone Expense
O Debit Phone Expense, Credit Bank
O Debit Phone Expense, Credit 0.E.

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