Exercisc 1-1 Swifty Corporation, opened an incorporated dental prace onJanuary 1, 2017. During the first month of operations, the following transactions occurred 1. Pertormed services tor patients who had dental plan insurance. At January 31, s800 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 $510. 3. Purchased dental equipment on January 1 for $80,700, paying s29,400 in cash and signing a $51,300, 3-year note payable interest is paid each December 31). The equipment depreciates $360 per month. Interest is $470 per month 4. Purchased a 1 year malpractice insurance policy on January 1 for s24,000. 5. Purchased $2,600 of dental supplies (recorded as increase to Supplies). On January 31, determined that $610 of supplies were on hand. 10 Prepare the adjusting entries on January 31. Account titles are Accurnulated Depreciation-Equipment, Depreciation Expense, Service Revenue, Accounts Receivable,Insurance Expense, Interest Expens,Interest Payable, Prepaid Insurance, Supplies, Suppli Expense, Utlites Expense, and Accounts Payan e 1f no entry 's required select No Fntr tor the account titles and enter or the mounts Credit account t ties are autonmta"y 'ndented when the amount is entered Do not indent