Practice Exercise 3-3 Novak, CPA, opened an accounting consulting practice on January 1, 2017. During the first month of operations, the following transactions occurred. 1. Performed services for customers with terms net 60. At January 31, $3,500 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 $1,360 3. Purchased computer and networking equipment on January 1 for $24,000, paying $12,000 in cash and signing a $12,000, 3-year note payable. The equipment depreciates $480 per month. Interest is $120 per month 4. Purchased a one-year insurance policy on January 1 for $16,800. 5. Purchased $2,400 of supplies. On January 31, determined that $900 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 o for the amounts.)