Grace Baer, physiotherapist, opened a practice. The business completed the following transactions: Dec 1 Bearinvested S 34,000 1. cash to start her practice. The business issued shares to Baer 2. Purchased medical supplies on account totalling $8600 Paid monthly office rent of $4,000 3. Recorded $8500 revenue for service rendered to patients, received cash of $2100, 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. (Leave unused cells blank.)

Grace Baer, physiotherapist, opened a practice. The business completed the following transactions: Dec 1 Bearinvested S 34,000 1. cash to start her practice. The business issued shares to Baer 2. Purchased medical supplies on account totalling $8600 Paid monthly office rent of $4,000 3. Recorded $8500 revenue for service rendered to patients, received cash of $2100, 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. (Leave unused cells blank.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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