Current Attempt in Progress

Cheyenne Corp., opened an incorporated dental practice on January $1,2022.$ During the first month of operations, the following transactions occurred.

Performed services for patients who had dental plan insurance. At January $31,$$$608$ of such services was completed but not yet billed to the insurance companies.

Utility expenses incurred but not paid or recorded prior to January $31$ totaled $$360.$

Purchased dental equipment on January $1$ for $$64,000,$ paying $$16,000$ in cash and signing a $$48,000,3-$year note payable $($interest is paid each December $31).$ The equipment depreciztes $$320$ per month. Interest is $$400$ per month.

Purchased a $1-$year malpractice insurance policy on January $1$ for $$19,200.$

Purchased $$1,400$ of dental supplies $($recorded as increase to Supplies$).$ On January $31,$ determined that $$440$ of supplies were on hand.

Prepare the adjusting entries on January $31.($Credit account titles are automatically indented when the amount is entered. Do not indent manually.$)$

No$.$ Date Account Titles and Explanation

Jan. $31$