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An Interest Expense of $125 has incorrectly been debited to Utilities Expense.
Which journal entry is required to correct the original journal entry?
SELECT ONLY ONE
1, debit Utilities Expense $125 and credit Suspense Account $125
2, credit Interest Expense $125 and debit Suspense Account $125
3, credit Interest Expense $125 and debit Utilities Expense $125
4, debit Interest Expense S125 and credit Suspense Account $125
5, debit Interest Expense $125 and credit Utilities Expense $125
Correcting entry
Answer is e: Debit interest expense $125, credit utilities expense $125