Danielle Manning, D.D.S., opened a dental practice on January 1, 2012. During the first month of operations, the following transactions occurred.
| 1. | Performed services for patients who had dental plan insurance. At January 31, $817 of such services was earned but not yet recorded. | |
| 2. | Utility expenses incurred but not paid prior to January 31 totaled $636. | |
| 3. | Purchased dental equipment on January 1 for $80,000, paying $24,700 in cash and signing a $55,300, 3-year note payable. (a) The equipment depreciates $400 per month. (b) Interest is $553 per month. | |
| 4. | Purchased a one-year malpractice insurance policy on January 1 for $24,828. | |
| 5. | Purchased $1,628 of dental supplies. On January 31, determined that $477 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.
Selected accounts for Brianna s Salon are presented below. All June 30 postings are from closing entries.
| Salaries and Wages Expense | |||
| 6/10 | 2,711 | 6/30 | 8,443 |
| 6/28 | 5,732 | ||
| Supplies Expense | |||
| 6/12 | 840 | 6/30 | 1,694 |
| 6/24 | 854 | ||
| Service Revenue | |||
| 6/30 | 17,961 | 6/15 | 9,299 |
| 6/24 | 8,662 | ||
| Rent Expense | |||
| 6/1 | 2,743 | 6/30 | 2,743 |
| Owner s Capital | |||
| 6/30 | 2,009 | 6/1 | 11,915 |
| 6/30 | 5,081 | ||
| Bal. | 14,987 | ||
| Owner s Drawings | |||
| 6/13 | 1,165 | 6/30 | 2,009 |
| 6/25 | 844 | ||
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