What impact does the entry have on the liability section

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Problem

Jones Company has the following information: Current accounting year end = 12/31/X6 Utilities USED/CONSUMED during the current accounting period = $6,500 USED/CONSUMED during the period 12/1/X6 through 12/31/X6 Due date of cash payment for utilities is 1/8/X7. Assume that Jones Company appropriately records the entry for this event at the balance sheet date. Get the instant assignment help. What impact does the entry have on the liability section ONLY of the balance sheet (do not consider assets or equity)?

Reference no: EM133973107

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