Jan Spears opened her decorating company on January 1, 2008. During the first month of operations, the following transactions occurred:
(1) Performed services for country club clients. On January 31, $2,300 of such services was earned but not yet billed to the clubs.
(2) Utility expenses incurred but not paid prior to January 31 totaled $650.
(3) Purchased decorating supplies on January 1 for $50,000, paying $10,000 in cash and signing a $40,000, three-year note payable. Interest is $300 per month.
(4) Purchased a one-year fire insurance policy on January 1 for $6,000.
(5) Purchased a computer at $2,100. On January 31, determined that $200 of the computer had been depreciated.

Instructions: Prepare the adjusting entries on January 31. Account titles are: Accumulated DepreciationFurniture, Depreciation Expense, Service Revenue, Accounts Receivable, Insurance Expense,

Interest Expense, Interest Payable, Prepaid Insurance, Supplies, Supplies Expense, Utilities Expense, and Utilities Payable.