Questions: Record the entry to receive October's rental bill of 750; set it aside. Note: Enter debits before credits. Transactions General Journal Debit Credit

To record the entry for receiving October's rental bill of $750, you need to make a journal entry in the general journal. Since this is a bill that has been received but not yet paid, it will be recorded as an expense and a liability. The entry will involve debiting the Rent Expense account and crediting the Accounts Payable account.

Here is how the journal entry should be recorded:

\[ \begin{array}{|c|l|l|l|} \hline \text{Transactions} & \text{General Journal} & \text{Debit} & \text{Credit} \\ \hline \text{F} & \text{Rent Expense} & \$750 & \\ \hline & \text{Accounts Payable} & & \$750 \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{array} \]

Explanation:

• Rent Expense (Debit): The Rent Expense account is debited because it represents an increase in expenses for the business. Expenses are recorded as debits in accounting.

• Accounts Payable (Credit): The Accounts Payable account is credited because it represents an increase in liabilities. The business now owes $750 for the rent, which is a liability until it is paid.

This entry effectively records the obligation to pay the rent while recognizing the expense incurred for the month of October.