Tony Fowler borrowed $94,030 on March 1, 2018. This amount plus accrued interest at 12% compounded semiannually is to be repaid March 1, 2028. To retire this debt, Tony plans to contribute to a debt retirement fund five equal amounts starting on March 1, 2023, and for the next 4 years. The fund is expected to earn 11% per annum How much must be contributed each year by Tony Fowler to provide a fund sufficient to retire the debt on March 1. 2028? (Round factor values to 5 decimal places, es 1.25124 and final answer to O decimal places, eu. 458,583.) Blossom Company, opened an incorporated dental practice on January 1, 2017. During the first month of operations, the following transactions occurred, 1. 2 3. Performed services for patients who had dental plan insurance. At January 31, 5900 of such services was completed but not yet billed to the insurance companies. Utility expenses incurred but not paid prior to January 31 totaled $770. Purchased dental equipment on January 1 for $87,600, paying $24,150 in cash and signing a $63,450,3-year note payable/Payments will start next year and interest is paid each December 31. The equipment will be depreciated using the straight-line method for 10 years with no residual value. The journal entry to record equipment depreciation occurs at the end of every month. Interest expense is recorded at the end of every month. The interest rate on the note is 10% 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 $630 of supplies were on hand 4. 5. Prepare the adjusting entries on January 31. Account titles that could be used include: Accumulated Depreciation Equipment, Accumulated Depreciation-Buildings, Depreciation Expense, Service Revenue, Unearned Service Revenue, Accounts Receivable, Notes Receivable, Insurance Expense, Insurance Payable, Interest Expense, Interest Payable, Prepaid Insurance. Prepaid Rent Supplies, Supplies Expense, Utilities Expense, Notes Payable, and Accounts Payable. (Only use these account titles and spell them EXACTLY the same as they are spelled above. Canvas will count your answer as incorrect if you don't. If no entry is required, type "No Entry for the account title and enter for the amount. Do not Indent credit entries manually. Do not include a symbol in your answers, Round your answers to the nearest whole dollar where necessary)
