How much cash does the business have to work


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Q: Varitek invested $27,000 cash to start her medical practice. The business completed the following transactions: Varitek invested $27,000 cash to start. The business issued common stock to Varitek. Purchased medical supplies on account totaling $8,800 Paid monthly office rent of $3,500 Recorded $8,800 revenue for service rendered to patients, received cash of $2,200, and sent bills to patients for the remainder. After these transactions, how much cash does the business have to work with? Use a T-account to show your answer.

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Accounting Basics: How much cash does the business have to work
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