Oriole Company, opened a dental practice on January 1, 2020. During the first month of operations, the following transactions occurred.

Performed services for patients who had dental plan insurance. At January 31, $890 of such services were performed but not yet recorded.2.Utility expenses incurred but not paid prior to January 31 totaled $640.3.Purchased dental equipment on January 1 for $90,000, paying $20,000 in cash and signing a $70,000, 3-year note payable. The equipment depreciates $450 per month. Interest is $600 per month.4.Purchased a one-year malpractice insurance policy on January 1 for $22,680.5.Purchased $1,700 of dental supplies. On January 31, determined that $300 of supplies were on hand.

Your answer is partially correct. Try again. Oriole Company, opened a dental practice on January 1, 2020. 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 were performed but not yet recorded. 2. Utility expenses incurred but not paid prior to January 31 totaled $640. 3. Purchased dental equipment on January 1 for $90,000, paying $20,000 in cash and signing a $70,000, 3-year note payable. The equipment depreciates $450 per month. Interest is $600 per month. 4. Purchased a one-year malpractice insurance policy on January 1 for $22,680. 5. Purchased $1,700 of dental supplies. On January 31, determined that $300 of supplies were on hand. 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 Utilities Payable. (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 875 Service Revenue 875 2. Jan. 31 utilities Expense 650 Utilities Payable 650 X 3. Jan. 31 Depreciation Expense 400 Accumulated Depreciation Equipment 400 (To record monthly depreciation) Jan. 31 Interest Expense 500 x Interest Payable 500 (To record interest on notes payable) * 4. Jan. 31 Insurance Expense 2,000 Prepaid Insurance 2,000 X 5. Jan. 31 Supplies Expense 1,200 Supplies 1,200