Greg smith opened a medical practice in Fremont California , and had the following transactions during the month of January Jan. 1 Jan. 1 The business received $36,000 cash and gave capital to Smith. Jan. 2 Purchased medical supplies on account, $15,000. Jan. 4 Performed services for patients receiving $1,300. Jan. 12 Paid monthly office rent of $2,100. Jan. 15 Recorded $11,000 revenue for services rendered to patients on account