E3.6 (LO3) (Adjusting Entries) Stephen King, D.D.S., opened a 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,$750 of such services were performed but not yet billed to the insurance companies. 2. Utility expenses incurred but not paid prior to January 31 totaled $520. 3. Purchased dental equipment on January 1 for $80,000, paying $20,000 in cash and signing a $60,000,3year note payable. The equipment depreciates $400 per month. Interest is $500 permonth. 4. Purchased a 1-year malpractice insurance policy on January 1 for $15,000. 5. Purchased $1,600 of dental supplies. On January 31 , determined that $400 of supplies were on hand. Instructions Prepare the adjusting entries on January 31. (Omit explanations.) 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