Meghan Lindh, D.D.S., opened a dental practice on January 1. During the first month of operations, the following transactions occurred.

Meghan Lindh, D.D.S., opened a dental practice on January 1. During the first month of operations, the following transactions occurred. 1. 2. 3. Purchased dental equipment on January 1 for $80,000. The equipment depreciates $400 per month. Purchased a one-year malpractice insurance policy on January 1 for $24,000. Purchased $1,600 of dental supplies. On January 31, determined that $400 of supplies were on hand. Prepare the adjusting entries on January 31. Account titles are Accumulated Depreciation-Equipment, Depreciation Expense, Insurance Expense, Prepaid Insurance, Supplies, and Supplies Expense. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit ). Date Account Titles and Explanation Jan. 31 Jan. 31 Jan. 31 eTextbook and Media List of Accounts Save for Later Attempts: 0 of 5 used Submit