The general journal entries that Russell Co. will make to record the receipt of the bill is (a).Utilities Expense Accounts Payable
Explanation:
Since Russell Co, has received the $400 utility bill for the current month's electricity, which is not due until the end of the next month which is when they intend to pay it,
The general Journal entry which Russell Co. will make to record the receipt of the bill, is to:
Debit - Utilities Expense..........$400
Credit - Accounts Payable ...........$400
Then when the expense is paid in the future
Debit -Accounts Payable ..........$400
Credit - Cash............................................$400
