View Policies Current Attempt in Progress Pharoah Company, opened an incorporated dental practice on January 1, 2022. 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, $ 968 of such services were completed but not yet billed to the insurance companies. Utility expenses incurred but not paid prior to January 31 totaled $ 576. Purchased dental equipment on January 1 for $ 102,400, paying $ 25,600 in cash and signing a $ 76,800, 3-year note payable (interest is paid each December 31). The equipment depreciates $512 per month. Interest is $ 640 per month. Purchased a 1-year malpractice insurance policy on January 1 for $ 30,720. Purchased $2,240 of dental supplies (recorded as increase to Supplies). On January 31, determined that $ 704 of supplies were on hand. 4. 5. Prepare adjustments on January 31 and record them in the tabular summary that follows. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Accts. Rec Prepd. Insur Supplies Equip 2 33 Prepare adjustments on January 31 and record them in the tabular summary that follows. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Liabilities Acc. Depr. Equip. Accts. Pay Int. Pay. Com Stock e Textbook and Media were on hand. are adjustments on January 31 and record them in the tabular summary that follows. (If a transaction results in a decrease in Assets ities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or y item that was reduced.) Stockholders' Equity Retained Earnings Com. Stock Rev. Exp. Div Textbook and Media Ive for Later Attempts: 0 of 3 used Submit Answer MacBook Pro