Response to the following problem:
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.