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1 2 Susan D.D.S. opened a dental practice on January 1, 2017 During the hrst month of operations, the following transactions occurred. Performed services for patients who had dental plan insurance. At January 31, $360 of such services was performed but not yet billed to the insurance companies Utility expenses incurred but not paid prior to January 31 totaled $260. Purchased dental equipment on January 1 for $44.000, paying $10.000 in cash and signing a $34.000. 3-year note payable {a) The equipment depreciates $200 per month (b) Interest is $270 per month Purchased a one-year malpractice insurance policy on January 1 for $5,640. Purchased $720 of dental supplies. On January 31, determined that $240 of supplies were on hand. 3. 4 5. Prepare the adjusting entries on January 31 Account titles are: Accumulated Depreciation Equipment Interest Payable Depreciation Expense Prepaid Insurance Service Revenue Supplies Supplies Expense Accounts Receivable Insurance Expense Utilities Expenses 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 Expenses Utilities Payable (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter for the amounts) No. Account Titles and Explanation Debit Credit No. Account Titles and Explanation Debit Credit 1 2 3. (a) 3. (b) 4 3. Mini 3. by