Oriole Company, opened a dental practice on January 1, 2020. During the first month of operations, the following transactions occurred. 1. 2. 3 4. Performed services for patients who had dental plan insurance. At January 31, $890 of such services were performed but not Utility expenses incurred but not paid prior to January 31 totaled $640. Purchased dental equipment on January 1 for $90.000, paying $20,000 in cash and signing a $70,000, 3-year note payable TI Purchased a one-year malpractice insurance policy on January 1 for $22,680. Purchased $1.700 of dental supplies. On January 31, determined that $300 of supplies were on hand, 5. Prepare the adjusting entries on January 31. Account titles are Accumulated Depreciation Equipment, Depreciation Expenso, Service Revenue Accounts Receivable. Insurance Expense, Interest Expense, Interest Payable, Prepaid insurance, Supplies, Supplies Expense, Utilities Expeme and Utilities Payable. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit No. Date Account Titles and Explanation Jan Accounts Receivable 31 1 875 Service Revenue 875 2 Jan. 31 Urities Expense 650 UL 650 3 Jan. 31 Deprecation Expense 400 400 Accumulated Depreciation Equint (To record monthly depreciation) Jan 31 500 500 (To record interest on notes payable) surance 4 Jan 31 2.000 trupad trwyrance 2.000 5 Jan 31 1.200 1.200 Oriole Company, opened a dental practice on January 1, 2020. During the first month of operations, the following transactions occurred. 1. 2. 3 4. Performed services for patients who had dental plan insurance. At January 31, $890 of such services were performed but not Utility expenses incurred but not paid prior to January 31 totaled $640. Purchased dental equipment on January 1 for $90.000, paying $20,000 in cash and signing a $70,000, 3-year note payable TI Purchased a one-year malpractice insurance policy on January 1 for $22,680. Purchased $1.700 of dental supplies. On January 31, determined that $300 of supplies were on hand, 5. Prepare the adjusting entries on January 31. Account titles are Accumulated Depreciation Equipment, Depreciation Expenso, Service Revenue Accounts Receivable. Insurance Expense, Interest Expense, Interest Payable, Prepaid insurance, Supplies, Supplies Expense, Utilities Expeme and Utilities Payable. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit No. Date Account Titles and Explanation Jan Accounts Receivable 31 1 875 Service Revenue 875 2 Jan. 31 Urities Expense 650 UL 650 3 Jan. 31 Deprecation Expense 400 400 Accumulated Depreciation Equint (To record monthly depreciation) Jan 31 500 500 (To record interest on notes payable) surance 4 Jan 31 2.000 trupad trwyrance 2.000 5 Jan 31 1.200 1.200
