Jackson Rental receives its September utility bill of $320 on September 30 but does not pay the

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Jackson Rental receives its September utility bill of $320 on September 30 but does not pay the bill until October 10. Jackson's accountant records the utility expense of $320 on October 10 at the time of payment. Will this cause any of Jackson's accounts to be misstated at the end of September? If so, indicate which ones and the direction of the misstatement.
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Financial Accounting

ISBN: 978-0078025549

3rd edition

Authors: J. David Spiceland, Wayne Thomas, Don Herrmann

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