Exercise 4-10 Your answer is partially correct. Try again. Blue Spruce Corp., opened an incorporated dental practice on January 1, 2017. During the first month of operations, the following transactions occurred. 1. Performed services for patients who had dental plan insurance. At January 31, $890 of such services was completed but not yet billed to the insurance companies. 2. Utility expenses incurred but not paid prior to January 31 totaled $620 3. Purchased dental equipment on January 1 for $80,600, paying $21,250 in cash and signing a $59,350, 3-year note payable (interest is paid each December 31). The equipment depreciates $650 per month. Interest is $640 per month. Purchased a 1-year malpractice insurance policy on January 1 for $24,000. Purchased $2,230 of dental supplies (recorded as increase to Supplies). On January 31, determined that $670 of supplies were on hand. 4. 5. Prepare the adjusting entries on January 31. Account titles are Accumulated Depreciation-Equipment, Depreciation Expense, Service Revenue. Accounts Receivable. Insurance Expense, Interest Expense, Interest Payable, Prepaid insurance, Supplies, Supplies Expense, Utilities Expense, and Accounts Payable. (Ifno entry is required, select "No Entry for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit 1. Jan. 31 Accounts Receivable 890 Service Revenue 2. Jan. 31 utlities Expense 620 Accounts Payable 3. Jan. 31 Interest Expense 640 Interest Payable To record depreciation expense) eprecistien Expense Accumulated Depreciatio To racord interest axpensa)