14-25

14-25. (Journal entries) Prepare journal entries to record the following transactions of a nonprofit hospital, with expense transactions categorized by function: 1. The hospital billed its uninsured patients for $250,000. Based on historical experience, it expects to collect 45 percent of that amount over time. 2. Nurses and doctors employed by the hospital were paid their salaries, $100,000. 3. The chief administrative officer was paid her salary of $10.000. 4. The hospital paid its utility bill, $5,000. 5. Depreciation on the equipment was $34,000. 6. Several adults donated their time (worth $5,000 ) selling merchandise in the hospital gift shop. 7. The hospital billed Medicare $100,000 for services provided at its established rates. The prospective billing arrangement gives Medicare a 40 percent discount from these rates. 8. A contribution without donor restrictions of $4,000 was received