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1: Chen's Dental Practice opened on January 1, 2017. During the first month of operations, the following transactions occurred. 1.Performed services for patients totaling HK$7,850,
1: Chen's Dental Practice opened on January 1, 2017. During the first month of operations, the following transactions occurred. 1.Performed services for patients totaling HK$7,850, which has not yet been recorded. 2.Utility expenses incurred but not paid prior to January 31 totaled HK$2,500. 3.Purchased dental equipment on January 1 for HK$900,000, paying HK$250,000 in cash and signing a HK$650,000 3-year note payable. The equipment depreciates HK$5,000 per month. Interest is HK$5,500 per month. 4. Purchased a 1-year malpractice insurance policy on January 1 for HK$150,000. 5.Purchased HK$17,000 of dental supplies. On January 31, determined that HK$3,000 of supplies were on hand. Instructions Prepare the adjusting entries on January 31
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