Hospital for Ending Long$-$term Problems $($HELP$)$ started the year with the following account balances $($shown in alphabetical order$)$:

Accounts Receivable $$300,000$

Cash $135,000$

Accounts Payable $0$

Equipment $70,000$

Line of Credit $100,000$

Net Assets with donor restrictions $217,000$

Net Assets without donor restrictions $125,000$

Supplies $7,000$

Wages Payable

$70,000$

HELP had the following financial events during the year:

$$ HELP collected $$250,000$ in cash that it had billed to the federal government under Medicare. The money had been earned in the prior fiscal year and was recorded as revenue then.

$$ HELP paid back $$100,000$ it borrowed at the end of last year on a line of credit. The bank did not charge interest.

$$ HELP bought $$25,000$ in supplies to treat patients. HELP paid the supplier for all the supplies with cash.

$$ HELP belongs to the state hospital association, and its membership is current $($meaning it is paid up through the end of the year$).$

$$ HELP receives an invoice for $$75,000$ for next year$$s fees but has not paid it yet.

$$ HELP replaced many of the patient examination tables. They cost $$50,000$ and HELP put $$10,000$ down in cash. The rest is still owed.

$$ HELP paid $$65,000$ it owed employees from last year. Employees had earned this last fiscal year, and it was recorded as an expense then.

a$)$ Record the opening balances and the transactions in a transactions worksheet

b$)$ Use the ending balances from a$)$ to prepare a balance sheet