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Pearl Weller, D.D.S., opened a dental practice on January 1, 2017. During the first month of...

Pearl Weller, D.D.S., opened a dental practice on January 1, 2017. During the first month of operations, the following transactions occurred.

1. Performed services for patients who had dental plan insurance. At January 31, $678 of such services was performed but not yet billed to the insurance companies.
2. Utility expenses incurred but not paid prior to January 31 totaled $482.
3. Purchased dental equipment on January 1 for $73,000, paying $19,000 in cash and signing a $54,000, 3-year note payable. (a) The equipment depreciates $376 per month. (b) Interest is $470 per month.
4. Purchased a one-year malpractice insurance policy on January 1 for $12,360.
5. Purchased $1,513 of dental supplies. On January 31, determined that $490 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 Expenses, and Utilities Payable.

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