Question

Question 7 --/1 View Policies Current Attempt in Progress Marigold Corp., opened an incorporated dental practice on January 1, 2022. During the first month of operations, the following transactions occurred. 1. Performed services for patients who had dental plan insurance. At January 31, $890 of such services was completed but not yet billed to the insurance companies. 2. Utility expenses incurred but not paid prior to January 31 totaled $670. 3. Purchased dental equipment on January 1 for $85,500, paying $29.250 in cash and signing a $56,250, 3-year note payable interest is paid each December 31). The equipment depreciates $620 per month. Interest is $470 per month. 4. Purchased a 1-year malpractice insurance policy on January 1 for $24,000. 5. Purchased $2,650 of dental supplies (recorded as increase to Supplies). On January 31, determined that $680 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 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit No. Date Account Titles and Explanation 1. Jan. 31 2. Jan. 31 3. Jan. 31 (To record depreciation expense) (To record interest expense) Jan. 31 4. 5. Jan. 31 e Texthonk and Media

Answer 1

Answer
no.	Accounting titles & Explanations	Debit	Credit
1	Account receivable	$        890
	Service revenue		$        890
	( To record Service revenue )
2	Utilties expense	$        670
	Accounts payable		$        670
3	Depreciation expense	$        620
	Accumulated depreciation-equipment		$        620
	interest expense	$        470
	interest payable		$        470
4	Insurance expense	$     2,000		24000/12
	Prepaid insurance		$     2,000
5	supplies expense	$     1,970		2650-680
	supplies .		$     1,970