California Condos
California Condos uses the accrual basis of accounting, and had the following account balances on its financial statements at December 31, 2019.
-Refer to California Condos. On January 1, the Utilities Payable Account had a zero balance. The company paid cash for utilities totaling $50,000 during 2019. How much should be reported as utilities expense for the year ended December 31, 2019?

Question

California Condos
California Condos uses the accrual basis of accounting, and had the following account balances on its financial statements at December 31, 2019. 
-Refer to California Condos. On January 1, the Utilities Payable Account had a zero balance. The company paid cash for utilities totaling $50,000 during 2019. How much should be reported as utilities expense for the year ended December 31, 2019?

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The Answer of California Condos
California Condos uses the accrual basis of accounting, and had the following account balances on its financial statements at December 31, 2019. 
-Refer to California Condos. On January 1, the Utilities Payable Account had a zero balance. The company paid cash for utilities totaling $50,000 during 2019. How much should be reported as utilities expense for the year ended December 31, 2019?

California Condos California Condos Uses the Accrual Basis of Accounting, and Had