Greg Tsang opened a dental practice on 1 January 2020. During the first month of operations, the following transactions occurred: 1. Performed services for patients. As at 31 January, $875 of such services was earned but not yet recorded. 2. Utility expenses incurred but not paid prior to 31 January totaled $520. 3. Purchased dental equipment on 1 January for $80,000, paying $20,000 in cash and signing a $60,000, 3-year note payable. The equipment depreciates $400 per month. Interest is $500 per month. 4. Purchased a 1-year professional insurance policy on 1 January for $18,000. Please show calculation. 5. Purchased $1,600 of dental supplies. On 31 January, determined that $600 of supplies were on hand. Please show calculation. Required: Prepare the adjusting entries on 31 January. Accounts titles are: Accumulated Depreciation-Dental Equipment, Depreciation Expense, Service Revenue, Accounts Receivable, Insurance Expense, Interest Expense, Interest Payable, Prepaid Insurance, Supplies, Supplies Expense, Utilities Expense and Utility Payable