ARecord the gross charges for patient services, all charged to Patient Accounts Receivable, amounting $1,675,000. BRecord the estimated contractual adjustments for patient services with third-party payors amounting $405,000. CRecord the hospital estimated implicit price concessions would total $35,000. DCharity services, not included in transaction 1, would amount to $66,000 had billings been made at gross amounts. EOther revenues received in cash were parking lot, $20,000; cafeteria, $35,000; gift shop, $5,000. FRecord the cash gifts restricted by the donor for programs amounting $32,000 for the year. GRecord the $50,000 technician salaries supporting the program. HRecord the reclassification of assets in satisfaction of program restrictions. IMortgage bond payments amounted to $50,000 for principal and $28,000 for interest. Assume unrestricted resources are used. JDuring the year, the hospital received, in cash, unrestricted contributions of $42,000 and unrestricted income of $35,000 from endowment investments. (It is the hospital’s practice to treat unrestricted gifts as nonoperating income.) KRecord the new equipment, costing $280,000, acquired using donor-restricted cash that was on hand at the beginning of the year. LRecord the reclassification of net assets due to equipment acquisition. MAn old piece of lab equipment that originally cost $50,000 and had an undepreciated cost of $10,000 was sold for $7,000 cash. NAt the end of 2024, pledges (restricted as to purpose) were received in the amount of $50,000. These are intended to be received and expended in 2025. OCash contributions were received from donors restricted for plant acquisition, $170,000. PRecord the bills received for utilities amounting $139,000 and insurance amounting $80,000 to be paid in January of 2025. QDepreciation of plant and equipment amounted to $180,000. RRecord the cash payments on accounts payable amounting $168,000. SRecord the $910,000 expended on wages and benefits. TCash collections of patient accounts receivable amounted to $1,180,000. These were in settlement of patient accounts totaling $1,587,000. Contractual adjustments associated with these totaled $400,000, and price concessions totaled $7,000. URecord the closing entry for net assets without donor restrictions. VRecord the closing entry for net assets with donor restrictions. During 2024, the following transactions were recorded by the Port Hudson Community Hospital, a private-sector not-for-profit institution:1. Gross charges for patient services, all charged to Patient Accounts Receivable, amounted to $1,675,000. Estimatedcontractual adjustments with third-party payors amounted to $405,000, and the hospital estimated implicit priceconcessions totaling 35,000.2. Charity services, not included in transaction 1, would amount to $66,000 had billings been made at gross amounts.3. Other revenues received in cash were parking lot, $20,000; cafeteria, $35,000; gift shop, $5,000.4. Cash gifts restricted by the donor for programs amounted to $32,000 for the year. During the year, $50,000 wasexpended for technician salaries supporting the program identified by the donor (Debit Operating Expense-Salariesand Benefits).5. Mortgage bond payments amounted to $50,000 for principal and $28,000 for interest. Assume unrestricted resourcesare used.6. During the year, the hospital received, in cash, unrestricted contributions of $42,000 and unrestricted income of$35,000 from endowment investments. (It is the hospital's practice to treat unrestricted gifts as nonoperating income.)7. New equipment, costing $280,000, was acquired using donor-restricted cash that was on hand at the beginning of theyear.8. An old piece of lab equipment that originally cost $50,000 and had an undepreciated cost of $10,000 was sold for$7,000 cash.9. At the end of 2024, pledges (restricted as to purpose) were received in the amount of $50,000. These are intended tobe received and expended in 2025.10. Cash contributions were received from donors restricted for plant acquisition, $170,000.11. Bills were received for the following items: utilities, $139,000, and insurance, $80,000. These will be paid in January of2025.12. Depreciation of plant and equipment amounted to $180,000.13. Cash payments on accounts payable amounted to $168,000. Another $910,000 was expended on wages and benefits.14. Cash collections of patient accounts receivable amounted to $1,180,000. These were in settlement of patient accountstotaling $1,587,000. Contractual adjustments associated with these totaled $400,000, and price concessions totaled$7,000.15. Closing entries were prepared.Required:a. Record the transactions in the general journal of the Port Hudson Community Hospital.

This Year's Revenue and ExpensesThe hospital earned revenue from patient services ($1.675 million)…

During 2024, the following transactions were recorded by the Port Hudson Community Hospital, a private-sector not-for- profit institution: 1. Gross charges for patient services, all charged to Patient Accounts Receivable, amounted to $1,675,000. Estimated contractual adjustments with third-party payors amounted to $405,000, and the hospital estimated implicit price concessions totaling 35,000. 2. Charity services, not included in transaction 1, would amount to $66,000 had billings been made at gross amounts. 3. Other revenues received in cash were parking lot, $20,000; cafeteria, $35,000; gift shop, $5,000. 4. Cash gifts restricted by the donor for programs amounted to $32,000 for the year. During the year, $50,000 was expended for technician salaries supporting the program identified by the donor (Debit Operating Expense-Salaries and Benefits). 5. Mortgage bond payments amounted to $50,000 for principal and $28,000 for interest. Assume unrestricted resources are used. 6. During the year, the hospital received, in cash, unrestricted contributions of $42,000 and unrestricted income of $35,000 from endowment investments. (It is the hospital's practice to treat unrestricted gifts as nonoperating income.) 7. New equipment, costing $280,000, was acquired using donor-restricted cash that was on hand at the beginning of the year. 8. An old piece of lab equipment that originally cost $50,000 and had an undepreciated cost of $10,000 was sold for $7,000 cash. 9. At the end of 2024, pledges (restricted as to purpose) were received in the amount of $50,000. These are intended to be received and expended in 2025. 10. Cash contributions were received from donors restricted for plant acquisition, $170,000. 11. Bills were received for the following items: utilities, $139,000, and insurance, $80,000. These will be paid in January of 2025. 12. Depreciation of plant and equipment amounted to $180,000. 13. Cash payments on accounts payable amounted to $168,000. Another $910,000 was expended on wages and benefits. 14. Cash collections of patient accounts receivable amounted to $1,180,000. These were in settlement of patient accounts totaling $1,587,000. Contractual adjustments associated with these totaled $400,000, and price concessions totaled $7,000. 15. Closing entries were prepared. Required: a. Record the transactions in the general journal of the Port Hudson Community Hospital.