Make sure to show your steps and with reasonable explanation Bramble Bennett, D$.$D$.$S$.,$ opened an incorporated dental practice called Bramble Bennett Professional Dentistry Corporation on

January $1,2025.$ During the first month of operations the following selected transactions occurred:

Performed services for patients who had dental plan insurance. At January $31,$$$620$ of such services was earned but not yet

billed to the insurance companies.

Utility expenses incurred but not paid prior to January $31$ totalled $$500.$

Purchased dental equipment on January $1$ for $$76,800,$ paying $$19,200$ in cash and signing a $$57,600,3-$year bank loan

payable $($interest is paid each December $31).$ The equipment depreciation is $$400$ per month. Interest on the bank loan is

$$480$ per month.

Purchased a $1-$year malpractice insurance policy on January $1$ for $$23,040.$ The cost of the insurance policy was debited to the

Prepaid Insurance account when paid on January $1,2025.$

Purchased $$1,720$ of dental supplies $($recorded as increase to Supplies$).$ On January $31$ determined that $$520$ of supplies

were on hand.

Estimated income taxes for the month amounting to $$220,$ to be paid next month.

Prepare the adjusting entries on January $31,2025.($Credit account titles are automatically indented when amount is entered. Do not

indent manually. List all debit entries before credit entries. If no entry is required, select $"$No Entry" for the account titles and enter

$0$ for the amounts.$)$

Date Account Titles and Explanation

Debit

Credit

Jan.

$31$

Jan.

$31$

Jan.

$31$

$($To record depreciation$)$

Jan.

$31$

$($To record interest$)$

Jan.

$31$

Jan.

$31$

Jan.