Cullumber Company opened an incorporated dental practice on January 1, 2017. During the first month of operations, the following transactions occurred,
Performed services for patients who had dental plan insurance At January 31.8920 of such services was completed but
not yet billed to the insurance companies.
Utility expenses incurred but not paid prior to January 31 totaled $610.
Purchased dental equipment on January 1 for $85.850 paying $28.150 in cash and signing a $57.700. 3 year note payable
(interest is paid each December 1). The equipment depreciates $550 per month interest is $690 per month
Purchased a 1-year malpractice Insurance policy on January 1 for $24,000
Purchased $2.340 of dental supplies (recorded as increase to Supplies). On January 31. determined that $670 of supplieswere on hand