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Grace Lombardi, MD, opened a medical practice. The business completed the following transactions: Jul 1 Lombardi invested $30,000 cash to start her medical practice.
Grace Lombardi, MD, opened a medical practice. The business completed the following transactions: Jul 1 Lombardi invested $30,000 cash to start her medical practice. The business issued common stock to Lombardi. Jul 2 Purchased medical supplies on account totaling $9,100. Jul 3 Paid monthly office rent of $4,500. Jul 6 Recorded $7,500 revenue (in cash) for service rendered to patients. After these transactions, how much cash does the business have to work with? Use a T-account to show your answer. Begin by posting the transactions, using the date as a posting reference. Then, label and calculate the ending balance, using "Bal" as the posting reference. Cash
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