You are the accountant for Mon Inc, a manufacturer of automobiles. This yoar, Mon Inc, used (and paid for) $525,000 of natural gas to heat its manutacturing tacity What would be the2 accounts used in the journal entry for this purchase?DetitCredit

Amount of 525000 related to expense ,it can also be called supplies

Answered: You are the acoountant for Mon Inc, a…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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You are the acoountant for Mon Inc, a manufacturer of automobiles. This yoar, Mon Inc. used (and paid for) $525,000 of natural gas to heat its manufacturing faclity What would be the 2 accounts used in the journal entry for this purchase? Debt Credit