Practice 6Samantha Cook, CPA opened a public accounting practice on January 1, 2014. During the first monththe following transactions occurred.1. Performed accounting services for clients. At January 31, 2014, $5,000 of the accounting services but not yet recorded2. Purchased computer equipment during January for $25,000, paying $5,000 in cash and signing a $payable. The computer equipment depreciates at $700 per month. Interest is $50 per month.3. The utility expenses incurred but not yet paid prior to January 31 totaled $950.4. Purchased $4,000 of office supplies during January. On January 31, determined that $1,200 of the5. On January 1, purchased a malpractice insurance policy for one year for $9,000Instructions: Prepare the adjusting entries on January 31.