Page 50 E9.7 Adjusting Entry Accrued Expenses Using the QBO Sample Company, Craig's Design and Landscaping Services, complete the following PG&E will bill Craig on January 1 for the prior year December utility services provided of $198.00. Since the Utilities Expense is incurred in December, the $198.00 must be recorded as an accrued expense and a liability recorded for the amount that Craig is obligated to pay in January. So an adjusting entry is needed to bring accounts up to date at December 31 1. Complete the following table. Amount Account Account Type Increase or Decrease? Debitor Credit? Utilities: Gas and Electric Expense Accounts Payable (A/P) Liability $ 2. Plan Adjusting Journal Entry a. Complete the following to plan the adjusting journal entry to enter in QBO 9 Journal Entry #1