Al Medina, D.DS., opened an incorporated dental practice on January 1, 2022. During the first month of operations, the following transactions occurred 1 Performed services for patients who had dental plan insurance. At January 31. $760 of such services was completed but not yet billed to the insurance companies 2 Utility expenses incurred but not paid prior to January 31 totaled $450. 3 Purchased dental equipment on January 1 for $80,000, payling $20,000 in cash and signing a $60,000, 3-year note payable (interest is paid each December 31) The equipment depreciates 4. Purchased a 1-year malpractice insurance policy on January 1 for $24,000 S. Purchased $1,750 of dental supplies (recorded as increase to Supplies). On January 31, determined that $550 of supplies were on hand. Prepare the adjusting entries on January 31. Account titles are Accumulated Depreciation-Equipment, Depreciation Expense, Service Revenud, Accounts Receivable, Insurance Expense, Inte Supplies, Supplies Expense, Utilities Expense, and Accounts Payable. (f no entry is required, select "No Entry" for the account titles and enter Ofor the amounts Credit account tites are automotically i manually) Date Account Titles and Explanation Debit Credit No. 1 Jan. 31 No Entry No Entry 2 Jan. 31 Utilitles Expense 450 Accounts Payable 450 3 Jan. 31 80.000 Equipment Accounts Payable 80,000 (To record depreciation expense) Depreciation Expense 400 Interest Expense 400 (To record interest expense) Jan. 31 4 Insurance Expense 24.000 Prepaid Insurances 24.000 Jan. 31 Supplies 550 Supplies Expense 550 AI Medina D.D.S, opened an incorporated dental practice on January 1, 2022. During the first month of operations, the following transactions occurred 1 Performed services for patients who had dental plan insurance. At January 31, $760 of such services was completed but not yet billed to the insurance companies Utility expenses incurred but not paid prior too January 31 totaled $450 2 3 Purchased dental equipment on January 1 for $80,000, paying $20,000 in cash and signing a $60,000, 3-year note payable (interest is paid each December 31). The equipment depreciates $400 per month Interest is $500 per month 4 Purchased a 1-year malpractice insurance policy on January 1 for $24,000 5 Purchased $1,750 of dental supplies (recorded as increase to Supplies). On January 31, determined that $550 of supplies were n hand Prepare the adusting entries on January 31. Account titles are Accumulated Depreciation-Equipment, Depreciation Experse, Service Revenue, Accounts Receivable, Inurance Expense, Interest Expense, Interest Payalle Prepaid Insurance, Supplies Supplies Expense, Utities Expense, and Accounts Payable no entry is required, select "No Entry" for the account titles and enter O for the amounts Credit account titles are automatically indented when the amount is entered Do not indent manually) en the amount is entered Do not indent manually) Date Account Titles and Explanation Debit Credit O. Jan. 31 Jan. 31 Utilities Expense 450 Accounts Payable 450 3. Jan. 31 (To record depreciation expense) (To record interest expense) 4, Jan. 31 Insurance Expense Prepaid Insurance 5. Jan. 31 eTextbook and Media