Dora Patel, MD, opened a medical practice. The business completed the following transactions:

July 1 Patel invested $60,000 cash to start her medical practice. The business issued common stock to Patel.

1 Purchased medical supplies on account totaling $12,000.

2 Paid monthly office rent of $4,700.

3 Recorded $10,300 revenue for service rendered to patients, received cash of $4,200, 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.