1. Suzy Smith opened a dental practice on January 1, 2021. During the first month of operations, the following transactions occurred.
a) Suzy finally performed $4,000 worth of services that a client had previously paid for.
b) Salary expenses incurred, but not paid before January 31st, totaled $600.
c) Incurred, but did not pay interest on equipment totaling $160.
d) The equipment depreciates $500 per month.
e) One month of a 12-month malpractice insurance policy of $12,000 expired.

Prepare the adjusting entries for January 31st.