Multiple Choice Quiz: Amalia Company received its utility bill for the current period of $700 and immediately paid it. Its journal entry to record this transaction includes a. a. Credit to Utility...

Multiple Choice Quiz: Amalia Company received its utility bill for the current period of $700 and immediately paid it. Its journal entry to record this transaction includes a. a. Credit to Utility Expense for $700. b. Debit to Utility Expense for $700. c. Debit to Accounts Payable for $700. d. Debit to Cash for $700. e. Credit to capital for $700.