Re: Accounting for Dumb...
Kish mish.. Since you're not paying for it right away because it says " on account " you cant put anything on the assets side. You will overstate the assets section. It is most definitely " Utilities Expense " for the debit side.
ill be ur friend :).. but i'll go crazy if every now and then you'll bring up an accounting problem for me to solve :D. I'm already going crazy in uni studyin this as major.