Lisa Anderson, D.D.S., opened a dental practice on January 1, 2020. During the first month of operations, the following transactions occurred.

1. Performed services for patients who had dental plan insurance. At January 31, $784 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 $567. 3. Purchased dental equipment on January 1 for $72,000, paying $18,000 in cash and signing a $54,000, 3-year note payable. (a) The equipment depreciates $399 per month. (b) Interest is $500 per month. 4. Purchased a one-year malpractice insurance policy on January 1 for $12,480. 5. Purchased $1,508 of dental supplies. On January 31, determined that $460 of supplies were on hand.

Prepare the adjusting entries on January 31. Account titles are Accumulated DepreciationEquipment, Depreciation Expense, Service Revenue, Accounts Receivable, Insurance Expense, Interest Expense, Interest Payable, Prepaid Insurance, Supplies, Supplies Expense, Utilities Expenses, and Accounts Payable. (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.)

[[[ below are my answers, all of them are correct, except the highlighted!]]] Please correct No. 2

No	Account and explanation	debit	credit
1	Account receivable	784
	Service revenue		784
	(To record service revenue)
2	Utilities expense	567
	Utilities payable [ WRONG ]		567
	(To record accured utilities)
3	Depreciation expense	399
	Accumlated depreciation-equipment		399
	(To record depreciation expense)
	Interest expense	500
	Interest payable		500
	(To record accured interest)
4	Insurance expense (12,480/12)	1040
	Prepaid insurance		1040
	(To record insurance expense)
5	Supplies expense (1,508-460)	1048
	Supplies		1048
	(To record supplies adjusted)