During January, there were accrued expenses for electricity and water that we duly accounted for in the previous accounting for M1, but we have now received invoices from the water and electricity utilities so, of course, we have to pay them. A total amount of 300 was accrued in January for these two bills.
There are two entries of 300 in the balance sheet, a credit entry, Cash at Bank, and a debit entry of the same value in the Creditors Account.
There is no entry in
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