NK Designer In: Category - Journal EntriesWhat is paid electricity bill journal entry?journal entrypaid electricity bill ShareFacebook1 AnswerVotedRecent Dheeraj 2020-08-30T19:36:51+05:30Added an answer on August 30, 2020 at 7:36 pm This answer was edited. There are various operating and Non-operating expenses incurred by an organization in its ordinary course of business such as- Salaries, Legal expenses, Electricity charges etc., Therefore, it is the primary responsibility of an accountant to record all these expenses in the books of accounts for deriving genuine net profit at the end of the accounting year.Journal Entry for Electricity Bill paid1. Traditional Accounting ApproachParticularsL.F.AmountNature of AccountAccounting RuleElectricity Bill a/cXXXNominalDebit- All expenses and Losses To Bank a/c XXXPersonalCredit- The Giver.(Being Electricity Bill paid).2. Modern Accounting ApproachParticularsL.F.AmountNature of AccountAccounting RuleElectricity Bill a/cXXXExpenseDebit- The Increase in Expense. To Bank a/c XXXAssetCredit- The Decrease in Asset.(Being paid electricity bill).ExampleOn 12th March, Alex Ltd. paid electricity bill amounting to 8,000 through cheque. Journalise the following transaction in the books of Alex Ltd. In the Books of Alex Ltd.DateParticularsL.F.AmountNature of AccountAccounting Rule12th MarchElectricity Bill a/c8,000ExpenseDebit- The Increase in Expense To Bank a/c 8,000AssetCredit- The Decrease in Asset.(Being paid electricity bill through cheque).0Reply Share ShareShare on FacebookShare on TwitterShare on LinkedInShare on WhatsAppLeave an answerCancel replyYou must login or register to add a new answer.