Question
(CO B) Adjusting entries: Minnie Smile, D.D.S. opened a dental practice on January 1, 201X. During the first month of operations the following transactions occurred:
(CO B) Adjusting entries: Minnie Smile, D.D.S. opened a dental practice on January 1, 201X. During the first month of operations the following transactions occurred: performed services for patients who had dental plan insurance. At January 31, $850 of such services was earned but not yet billed to the insurance companies. Utility expenses incurred but not paid prior to January 31 totaled $520. Purchased a 1-year malpractice insurance policy on January 1 for $12,000. Prepare the adjusting entries on January 31. Omit explanations. For each journal entry write DR for debit and CR for credit.
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