Minnie Smile, D.D.S. opened a dental practice on January 1, 201X. During the first month of operations, the following transactions occurred: paid 1 year’s rent in advance for $12,000. Collected $700 from a client that had previously charged the amount that was owed for the work done. Purchased a desk on account for $1,000. You are to prepare the missing adjusting entry. For each journal entry write DR for debit and CR for credit.

Answer rating: 100% (QA)

Solution Journal entries Date account and explanation debit c... View the full answer