List and record each transaction for S. Zee Outpatient Clinic under the accrual basis of accounting at December 31, 20X1. then develop a balance sheet as of December 31, 20X1, and a statement of operations for the year ended December 31, 20X1.
• The clinic received a $3,000,000 of unrestricted cash contribution from the community.
• The clinic purchased $2,000,000 of equipment. The clinic paid cash for the equipment.
• The clinic borrowed $1,000,000 from the bank a long-term basis,
• The clinic purchased $1,500,000 of supplies on credit.
• The clinic provided $5,500,000 services on credit.
• In the provision of these services, the clinic used $1,000,000 of supplies.
• The clinic received $500,000 in advance to care for capacitated patients.
• The clinic incurred $2,000,000 in labor expenses and paid cash for them.
• The clinic incurred $1,500,000 in general expenses and paid cash for them.
• The clinic received $4,500,000 from patients and their third parties in payment of outstanding accounts.
• The clinic met $300,000 of its obligation to capacitated patients in Transaction g.
• The clinic made a $100,000 cash payment on the long-term loan.
• The clinic also made a cash interest payment of $50,000.
• A donor made a temporarily restricted donation of $100,000 to be used for operations.
• The clinic recognized $200,000 in depreciation for the year.
• The clinic recognized $500,000 of patient accounts would not be received.