^- Grouper, CPA, opened an accounting consulting practice on January 1, 2020. During the first month of operations, the following transactions occurred.

1.		Performed services for customers with terms net 60. At January 31, $5,000 of such services was performed but not yet billed to the insurance companies.
2.		Utility expenses incurred but not paid prior to January 31 totaled $1,580.
3.		Purchased computer and networking equipment on January 1 for $28,000, paying $14,000 in cash and signing a $14,000, 3-year note payable. The equipment depreciates $560 per month. Interest is $140 per month.
4.		Purchased a one-year insurance policy on January 1 for $12,000.
5.		Purchased $2,400 of supplies. On January 31, determined that $800 of supplies were on hand.

Prepare the adjusting entries on January 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

No.	Account Titles and Explanation	Debit	Credit
1.	enter an account title to record the first transaction	enter a debit amount	enter a credit amount
	enter an account title to record the first transaction	enter a debit amount	enter a credit amount
2.	enter an account title to record the second transaction	enter a debit amount	enter a credit amount
	enter an account title to record the second transaction	enter a debit amount	enter a credit amount
3.	enter an account title to record the depreciation expense	enter a debit amount	enter a credit amount
	enter an account title to record the depreciation expense	enter a debit amount	enter a credit amount
	(To record depreciation expense)
3.	enter an account title to record the interest expense	enter a debit amount	enter a credit amount
	enter an account title to record the interest expense	enter a debit amount	enter a credit amount
	(To record interest expense)
4.	enter an account title to record the fourth transaction	enter a debit amount	enter a credit amount
	enter an account title to record the fourth transaction	enter a debit amount	enter a credit amount
5.	enter an account title to record the fifth transaction	enter a debit amount	enter a credit amount
	enter an account title to record the fifth transaction