Question: Create a General Journal entry in accordance with GAPP and using the periodic inventory system and the net method for the following entries; Dec 20:

Create a General Journal entry in accordance with GAPP and using the periodic inventory system and the net method for the following entries; Dec 20: Received the December utilities bill for the amount of $6,000. The bill will be paid in January of next year. Special note: Credit the Utilities Payable account for the balance owed.

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