Question

ssignment CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION 4 BACK NEX CES it 2. 3. Exercise 4-10 Wildhorse Co., opened an incorporated 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, $740 of such services was completed but not yet billed to the insurance companies. Utility expenses incurred but not paid prior to January 31 totaled $850. Purchased dental equipment on January 1 for $86,600, paying $28,150 in cash and signing a $58,450, 3-year note payable (interest is paid each December 31). The equipment depreciates $460 per month. Interest is $680 per month Purchased a 1-year malpractice insurance policy on January 1 for $24,000. Purchased $2,110 of dental supplies (recorded as increase to Supplies). On January 31, determined that $670 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 Accounts Payable. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) 4. 5. Credit aly Debit No. Date Account Titles and Explanation 1. Jan. 31 2. Jan. 31 3. Jan. 31 Version 4. ivacy Policy. I 2000-2020 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc.

Answer 1

No.	Accounting titles & explanations	Debit	Credit
1	Account receivable	740
	service revenue		740
2	utility expense	850
	Accounts payable		850
3a)	Depreciation expense	460
	Accumulated depreciation		460
	interest expense	680
	interest payable		680
4)	Insurance expense	2,000
	Prepaid insurance		2,000
	(24000*1/12)
5)	Supplies expense	1,440
	supplies (2,110-670)		1,440