[spoon236]

Need help preparing adjusting entries.

1. Performed services for patients who had dental plan insurance. At January 31, $875 of such services was earned but not yet recorded.

2. Utility expenses incurred but not paid prior to January 31 totaled $630.

3. Purchased dental equipment on January 1 for $80,000, paying $20,000 in cash and signing a $60,000, 3 year note payable. The equipment depreciates $400 per month. Interest is $500 per month.

4. Purchased a one-year malpractice insurance policy on January 1 for $21,000.

5. Purchased $1600 of dental supplies. On January 31, determined that $600 of supplies were on hand.

The dental practice opened January 1, 2006. During the first month of operations these transactions occurred.

[omsailogistic]

First of all quote the financial year that you opted or used in your country
In terms of dates like

01/01/year1 to 31/12/year2

Or is it

01/04/year to 31/03/year

Because it will affect your prepaid and outstanding accounts