Purchased dental equipment on january 1 for 67800 paying, Ask an Expert

Accounting

1. Performed services for patients who had dental plan insurance. At January 31, $894 of such services was earned but not yet recorded.

2. Utility expenses incurred but not paid prior to January 31 totaled $512.

3. Purchased dental equipment on January 1 for $67,800, paying $46,760 in cash and signing a $21,040, 3-year note payable. The equipment depreciates $339 per month. Interest is $526 per month.

4. Purchased a one-year malpractice insurance policy on January 1 for $17,616.

5. Purchased $1,692 of dental supplies. On January 31, determined that $296 of supplies were on hand.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9437268

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