A telephone bill for 3,290 (inclusive of VAT) remaining unpaid should be accounted for as: (a) Debit
Question:
A telephone bill for £3,290 (inclusive of VAT) remaining unpaid should be accounted for as:
(a) Debit Telephone expense £2,800, debit VAT account £490, credit Bank account £3,290
(b) Debit Telephone expense £2,800, debit VAT account £490, credit Accrued expenses £3,290
(c) Debit Telephone expense £3,290, credit Accrued expenses account £3,290
(d) Debit Telephone expense £3,290, credit VAT account £490, credit Accrued expense account £2,800
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Related Book For 
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict
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