Jim Haught, D.D.S., opened an incorporated dental practice on January 1, 2014. During the first month of operations, the following transactions occurred.

1.		Performed services for patients who had dental plan insurance. At January 31, $800 of such services was completed but not yet billed to the insurance companies.
2.		Utility expenses incurred but not paid prior to January 31 totaled $800.
3.		Purchased dental equipment on January 1 for $82,900, paying $21,030 in cash and signing a $61,870, 3-year note payable (interest is paid each December 31). The equipment depreciates $500 per month. Interest is $500 per month.
4.		Purchased a 1-year malpractice insurance policy on January 1 for $24,000.
5.		Purchased $2,450 of dental supplies (recorded as increase to Supplies). On January 31, determined that $570 of supplies were on hand.

Prepare the adjusting entries on January 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

No.	Account Titles and Explanation	Debit	Credit
1.
2.
3.
	(To record depreciation expense)
	(To record interest expense)
4.
5.

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