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Blossom Company, opened an incorporated dental practice on January 1, 2022. During the first month of operations, the following transactions occurred, 1 2 3. Performed
Blossom Company, opened an incorporated dental practice on January 1, 2022. During the first month of operations, the following transactions occurred, 1 2 3. Performed services for patients who had dental plan insurance. At January 31, $ 923 of such services were completed but not yet billed to the insurance companies. Utility expenses incurred but not paid prior to January 31 totaled $ 549. Purchased dental equipment on January 1 for $97,600, paying $ 24,400 in cash and signing a $73,200,3-year note payable (interest is paid each December 31). The equipment depreciates $ 488 per month. Interest is $ 610 per month Purchased a 1-year malpractice insurance policy on January 1 for $ 29,280. Purchased $2.135 of dental supplies (recorded as increase to Supplies). On January 31, determined that $ 671 of supplies were on hand, 4 5
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