Evan Watts opened a dental practice on January 1, 2017. During the first month of operations, the following transactions occurred.

1.		Watts performed services for patients totalling $2,170. These services have not yet been recorded.
2.		Utility expenses incurred but not paid prior to January 31 totalled $390.
3.		Purchased dental equipment on January 1 for $76,000, paying $18,400 in cash and signing a $57,600, three-year note payable. The equipment depreciates $400 per month. Interest is $490 per month.
4.		Purchased a one-year malpractice insurance policy on January 1 for $11,400.
5.		Purchased $2,440 of dental supplies. On January 31, determined that $950 of supplies were on hand.