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CALEA FUL BACK 3. Exercise 30 Oriol Company opened a dental practice on January 1, 2015. During the first month of the follow
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Answer #1

Based on the information available in the question, we can answer as follows:-

Journal entry 1:-

January 31 Accounts Receivable A/c                          890
           To Service Revenue A/c                             890
(To record the accounts receivable for service revenues)

Journal entry 2 :-

January 31 Utilities expense                           640
           To Accounts Payable A/c                             640
(To record the utilities expense incurred but not paid)

Journal entry 3:-


Date Particulars Amount Amount
January 31 Depreciation Expense A/c                           450
            To Accumulated Depreciation A/c                             450
(To record depreciation expenses)
January 31 Interest expense                           600
           To Interest Payable                             600
(To record the interest payable)

Journal entry 4:-

January 31 Insurance expense(22,680 * 1/12)                        1,890
           To Prepaid Insurance                          1,890
(To record insurance expense)

Journal entry 5:-

January 31 Supplies expense ($1,700 - $300)                        1,400
           To Supplies                          1,400
(To record the supplies expense)

Please let me know if you have any questions via comments and all the best :)

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