Jan. 6		Holmgren invested $260,000 in the clinic by opening a bank account in the name of Holmgren Medical Clinic.
9		Holmgren Medical Clinic paid cash for land costing $130,000. There are plans to build a clinic on the land. Until then, the business will rent an office.
12		The clinic purchased medical supplies for $9,200 on account.
15		On January 15, Holmgren Medical Clinic officially opened for business.
15-31		During the rest of the month, the clinic earned professional fees of $22,500 and received cash immediately.
15-31		The clinic paid cash expenses: employee salaries, $4,600; office rent, $3,500; utilities, $540.
28		The clinic sold supplies to another clinic at cost for $1,100.
31		The clinic paid $3,000 on the account from January 12.