E3-6B (L03) (Adjusting Entries) Cheng, D.D.S., opened a dental practice on January 1, 2017. During the first month of oper-ations the following transactions occurred. 1. Performed services for patients who had dental plan insurance. At January 31, $375 of such services was performed but not yet billed to the insurance companies. 2. Utility expenses incurred but not paid prior to January 31 totaled $260. 3. Purchased dental equipment on January 1 for $40,000, paying $10,000 in cash and signing a $30,000, 3-year note pay-able. The equipment depreciates $200 per month. Interest is $250 per month. 4. Purchased a one-year malpractice insurance policy on January 1 for $6,000. 5. Purchased $800 of dental supplies. On January 31, determined that $250 of supplies were on hand. Instructions Prepare the adjusting entries on January 31. E3-8B (L03) (Adjusting Entries) Dement is the new owner of Fung Computer Services. At the end of August 2017, his first month of ownership, Dement is trying to prepare monthly financial statements. Below is some information related to unre- corded expenses that the business incurred during August. (a) At August 31, Dement owed his employees $2,280 in wages that will be paid on September 1. (b) At the end of the month he had not yet received the month's utility bill. Based on past experience, he estimated the bill would be approximately $720. (c) On August 1, Dement borrowed $36,000 from a local bank on a 15-year mortgage. The annual interest rate is 6%. (d) A telephone bill in the amount of $140 covering August charges is unpaid at August 31. Instructions Prepare the adjusting journal entries as of August 31, 2017, suggested by the information above