• 1.Record the gross charges for patient services, all charged to Patient Accounts Receivable, amounted to $1,860,000.

• 2. Record the estimated contractual adjustments for patient services with third-party payors amounted to $505,000.

• 3.Record the $16,000 estimated implicit price concessions.

• 4.Charity services, not included in transaction 1, would amount to$78,000, had billings been made at gross amounts.

• 5.Other revenues, received in cash, were parking lot, $26,000; cafeteria, $44,000; gift shop, $8,000.

• 6.Record the cash gifts received for programs.

• 7.Record the $60,800 technician salaries supporting the program.

• 8.Record the reclassification of assets in satisfaction of program restrictions.

• 9.Mortgage bond payments amounted to $59,600 for principal and $35,200 for interest. Assume unrestricted resources are used.

• 10.During the year, the hospital received, in cash, unrestricted contributions of $50,400 and unrestricted income of $42,500 from endowment investments.

• 11.Record the new equipment, costing $164,000, acquired using donor-restricted cash that was on hand at the beginning of the year.

• 12.Record the reclassification of net assets due to equipment acquisition.

• 13.An old piece of lab equipment that originally cost $110,000 and that had an undepreciated cost of $22,000 was sold for $13,000 cash.

• 14.At the end of 2020, pledges (restricted as to purpose) were received in the amount of $130,000. These are intended to be received and expended in 2021.

• 15.Cash contributions were received from donors restricted for plant acquisition, $213,000.

• 16.Record the bills received for Utilities $146,800 and Insurance $84,800 to be paid in January of 2021.

• 17. Depreciation of plant and equipment amounted to $198,000.

• 18.Record the cash payments on accounts payable amounted to $184,200.

• 19.Record the $813,800 expended on wages and benefits.

• 20.Cash collections of patient accounts receivable amounted to $1,192,000. These were in settlement of patient accounts totaling $1,617,000. Contractual adjustments associated with these totaled $412,000 and price concessions totaled $13,000.

• 21.Record the closing entry for net assets without donor restrictions.

• 22.Record the closing entry for net assets with donor restrictions.

During 2020, 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 $1,860,000. Estimated contractual adjustments with third-party payors amounted to $505,000 and the Hospital estimated implicit price concessions would total $16,000. 2. Charity services, not included in transaction 1, would amount to $78,000, had billings been made at gross amounts. 3. Other revenues, received in cash, were parking lot, $26,000; cafeteria, $44,000; gift shop, $8,000. 4. Cash gifts restricted by the donor for programs amounted to $31,100 for the year. During the year, $60,800 was expended for technician salaries supporting the program identified by the donor (debit Operating ExpenseSalaries and Benefits). 5. Mortgage bond payments amounted to $59,600 for principal and $35,200 for interest. Assume unrestricted resources are used. 6. During the year, the hospital received, in cash, unrestricted contributions of $50,400 and unrestricted income of $42,500 from endowment investments. (It is the hospital's practice to treat unrestricted gifts as nonoperating income.) 7. New equipment, costing $164,000, 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 $110,000 and that had an undepreciated cost of $22,000 was sold for $13,000 cash. 9. At the end of 2020, pledges (restricted as to purpose) were received in the amount of $130,000. These are intended to be received and expended in 2021. 10. Cash contributions were received from donors restricted for plant acquisition, $213,000. 11. Bills were received for the following items: Utilities $146,800 and Insurance $84,800. These will be paid in January of 2021. 12. Depreciation of plant and equipment amounted to $198,000. 13. Cash payments on accounts payable amounted to $184,200. Another $813,800 was expended on wages and benefits. 14. Cash collections of patient accounts receivable amounted to $1,192,000. These were in settlement of patient accounts totaling $1,617,000. Contractual adjustments associated with these totaled $412,000 and price concessions totaled $13,000. 15. Closing entries were prepared. Required: a. Record the transactions in the general journal of the Port Hudson Community Hospital. b. Prepare a Statement of Operations for the Port Hudson Community Hospital for the year ended December 31, 2020. c. Prepare a Statement of Changes in Net Assets for the Port Hudson Community Hospital for the year ended December 31, 2020. Assume beginning net assets are $7,090,000. Journal entry worksheet