Elizabeth Brown, D.D.S. opened a dental practice on January 1. During the first month of operations, the following transactions occurred. 1 2 Purchased dental equipment on January 1 tor $93,000. The equipment depreciates $465 per month. Purchased a one-year malpractice insurance policy on January 1 for $24,000. Purchased $1,650 of dental supplies. On January 31, determined that $550 of supplies were on hand. 3. Prepare the adjusting entries on January 31. Account titles are Accumulated Depreciation Equipment, Depreciation Expense, Insurance Expense, Prepaid Insurance, Supplies, and Supplies Expenses. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Jan. 31 Debit Credit 2 Jan 31 3 Jan 31