Karen Weller, D.D.S., open a dental practice on January 31, 2014. During the first month of operations, the following transactions occured.

1.Performed services for patients who had dental plan insurance. At January 31, $750 of such services was performed but not yet biled to the insurance companies .

2. Utiltiy expenses incurred but not paid prior to Januray 31 totaled $520.

3. Purchased dental equipment on January 1 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 one-year malpractice insurance policy on January 1 for $12,000.

5. Purchased $1600 of dental supllies. On January31, determined that $500 of supplies were on hand.

Prepare the adjusting entries on January 31.