Question $2$ of $11$

Current Attempt in Progress

Swifty Bennett, D$.$D$.$S$.,$ opened an incorporated dental practice called Swifty Bennett Professional Dentistry Corporation on January $1,$

During the first month of operations the following selected transactions occurred:

Performed services for patients who had dental plan insurance. At January $31,$$$550$ of such services was earned but not yet

billed to the insurance companies.

Utility expenses incurred but not paid prior to January $31$ totalled $$430.$

Purchased dental equipment on January $1$ for $$65,600,$ paying $$16,400$ in cash and signing a $$49,200,3-$year bank loan

payable $($interest is paid each December $31).$ The equipment depreciation is $$330$ per month. Interest on the bank loan is

$$410$ per month.

Purchased a $1-$year malpractice insurance policy on January $1$ for $$19,680.$ The cost of the insurance policy was debited to the

Prepaid Insurance account when paid on January $1,2025.$

Purchased $$1,440$ of dental supplies $($recorded as increase to Supplies$).$ On January $31$ determined that $$450$ of supplies

were on hand.

Estimated income taxes for the month amounting to $$150,$ to be paid next month.

Prepare the adjusting entries on January $31,2025.($Credit account titles are automatically indented when amount is entered. Do not indent

manually. List all debit entries before credit entries. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts.$)$

No$,$ Date Account Titles and Explanation