An Interest Expense of $125 has incorrectly been debited to Utilities Expense.
An Interest Expense of $125 has incorrectly been debited to Utilities Expense.
Which journal entry is required to correct the original journal entry?
SELECT ONLY ONE
debit Utilities Expense $125 and credit Suspense Account $125
credit Interest Expense $125 and debit Suspense Account $125
credit Interest Expense $125 and debit Utilities Expense $125
debit Interest Expense S125 and credit Suspense Account $125
debit Interest Expense $125 and credit Utilities Expense $125
Homework Answers
Corrrecting entry
| Date | account and explanation | Debit | Credit |
| Interest expense | 125 | ||
| Utilities expense | 125 | ||
So answer is e) Debit interest expense $125 and credit utilities expense $125
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An Interest Expense of $125 has incorrectly been debited to Utilities Expense.
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