Dr. Salerno operates a clinic that accepts dental insurance. They send the patients’ bills to the...
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Dr. Salerno operates a clinic that accepts dental insurance. They send the patients’ bills to the insurance company on a monthly basis, the last day of the month. For the month of February they performed dental services amounting to $16,000 which will be billed to the dental insurance companies on February 28. No journal entries are made during the month for any services provided to patients that will be billed to the patient’s dental insurance companies. The adjusting journal entry for the month of February when the dental insurance companies are billed would be? describe credit/debit and the amount. Explain your answer. |
Homework Answers
Adjusting entry
| Date | account and explanation | Debit | Credit |
| Account receivable | 16000 | ||
| Service revenue | 16000 | ||
| (To record service performed) |
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Dr. Salerno operates a clinic that accepts dental insurance.
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