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E 2 . 6 ( LO 3 ) ( Adjusting Entries ) Karen Weller, D . D . S . , opened a dental practice

E2.6(LO 3)(Adjusting Entries) Karen Weller, D.D.S., opened a dental practice on January 1,2025. During the first month of operations, the following transactions occurred.
Performed services for patients who had dental plan insurance. At January 31,$750 of such services was performed but not yet billed to the insurance companies.
Utility expenses incurred but not paid prior to January 31 totaled $520.
Purchased dental equipment on January 1 for $80,000, paying $20,000 in cash and signing a $60,000,3-year note payable. The equipment depreciates $400 per month. Interest is $500 per month.
Purchased a one-year malpractice insurance policy on January 1 for $12,000.
Purchased $1,600 of dental supplies. On January 31, determined that $500 of supplies were on hand.
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