Question

It’s the end of the accounting period and no electric bill has been received but the expense has been incurred;you should record an entry that

Answer 1

Answer.
You should record an entry.

Reason.
There are generally two methods a business or company can use to record its expense in its general ledger. The accrual basis and the cash basis of accounting. The accrual basis records the expense during the period it was incurred and cash basis only records the expense when it has been paid. The electricity bill record should be recorded under the accrual basis because the payment has not been made and later on made under the cash basis when the electricity bill has been cleared.

Answer 2

The answer to your questions is "Increases the total liabilities and Increases the total expenses."