-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 2013. How much should be reported as utilities expense for the year ended December 31, 2013?

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-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 2013. How much should be reported as utilities expense for the year ended December 31, 2013?