A company receives a $700 utility bill for the current month but does not plan to pay the bill until early next month.Record the receipt of the utility bill using (a)accrual-basis accounting and (b)cash-basis accounting.

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The Answer of A company receives a $700 utility bill for the current month but does not plan to pay the bill until early next month.Record the receipt of the utility bill using (a)accrual-basis accounting and (b)cash-basis accounting.

A Company Receives a $700 Utility Bill for the Current