For each item, indicate (1) the type of adjustment (prepaid expense, unearned revenue, accrued revenue, or accrued expense) and (2) the status of accounts before adjustment (overstatement or understatement).

E3.8 (LO 2, 3), AP Lorena Manzone, 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, $785 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 $650. 3. Purchased dental equipment on January 1 for $80,000, paying $30,000 in cash and signing a $50,000, 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 $1,600 of dental supplies (recorded as increase to Supplies). On January 31, determined that $400 of supplies were on hand