Sandra Robinson, D

Sandra Robinson, D.D.S., 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, $840 of such services were performed but not yet recorded.

2.Utility expenses incurred but not paid prior to January 31 totaled $620.

3.Purchased dental equipment on January 1 for $85,000, paying $28,000 in cash and signing a $57,000.0, 3-year note payable. The equipment depreciates $425.0 per month. Interest is $570 per month.

4.Purchased a one-year malpractice insurance policy on January 1 for $25,440.

5.Purchased $1,500 of dental supplies. On January 31, determined that $500 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. 

No. Date Account Titles and Explanation Debit Credit

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