MarikBu, opened accounting consulting company on January 1, 2021. During the first month of operations, the following transactions occurred. 1 Performed $ 40,500 services for customers with terms net 60. At January 31, 50% of such services was not yet billed. 2 Utility expenses incurred but not paid prior to January 31 totaled $ 2,025 3 Purchased computer and networking equipment on January 1 for $ 89,250 0 paying $ 44,625 in cash and signing $ 44,625 a 3 year note payable. 1 The equipment depreciates $ 1,488 per month. Interest is $ 372 per month. 2 Purchased a one-year insurance policy on January 1 for $ 36,450 3 5 Purchased $ 4,050 of supplies. On January 31, determined that $ 3,240 4 of supplies were on hand. 15 Instructions Prepare the adjusting entries on January 31, 2021. (Omit explanations.) Account titles are Accumulated Depreciation Equipment, Depreciation Expense, Service Revenue, Accounts Receivable, Insurance Expense, Interest Expense, Interest Payable, Prepaid Insurance, Supplies, Supplies Expense, Utilities Expense, and Accounts Payable. 18 19 Entries Dr 20 1. Instructions READ ME FIRST 2. Your Name and ID Q1 02 Sheet4