WileyPLUS Lorena Manzone, D.D.S., opened a dental practice on January 1, 2020. D

Question

WileyPLUS Lorena Manzone, D.D.S., opened a dental practice on January 1, 2020. During the first menth of operations, the following transactions scourred Question 1. Performed services for patients who had dental plan insurance. At lanuary 31, $78s of such services were performed but not yet recorided 2. Uelity expenses inourred but not peid prior to January 31 totaled s650. 3. Purchased dental ecuipment on January 1 for s80.000, paying s30,000 in cash and sgning a sso,0o, 3-year note payable. The equioment depreciates $400 per month Interest is s00 p Results by Study insurance policy on January 1 for $24,000. Purchased $1,600 of dental supplies. On January 31, determined that $400 of supplies were on hand. S. Prepare the adjusting entries on January 31. Account enies are Accumulated Expense, Interest Payable, Prepaid Insurance, Supplies, Supplies Expense, Utilies Expense, and Utilities Payable. (Credit account titles are automatically indented when the amount is 1. Jan. 31 2. Jan. 31 3. Jan. 31 4. Jan. 31 s. 3an. 31 6. Jan. 31

Explanation / Answer

1 Accounts receivable 785                Service revenue 785 2 Utilities expense 650                 Utilities payable 650 3 Depreciation expense 400           Accumulated depreciation equipment 400 4 Interest expense 500             Interest payable 500 5 Insurance expense 2000 (24000/12)             Prepaid insurance 2000 6 Supplies expense 1200 (1600-400)             Supplies 1200

Related Questions

Navigate

• Browse (All)
• Browse W
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.