ACCOUNTING CHAPTER 3 PRINCIPLES AND PRACTICES OF HEALTH CARE 132 Transactions plus multiple statements. St. Catherine's Diagnostic Center had lowing ending balances at December 31, 20x0, for its assets, liabilities, and the fol. 17. accounts. Givens Cash and temporary investments Accounts receivable Allowance for uncollectibles Inventory Plant and equipment Accumulated depreciation Accounts payable Other short-term notes payable Long-term bonds payable Unrestricted net assets Temporarily restricted net assets $300,000 $2,500,000 $200,000 $205,000 5,800,000 312,000 $230,000 $30,000 $400,000 $7,632,800 $200 List and record each 20X1 transaction under the accrual basis of accounting. Then develop a balance sheet at end-of-years 20X0 and 20X1 and a statement of operations anda statement of changes in net assets for the year ended December 31, 20X1. a. The center collected $2,000,000 in cash from outstanding accounts receivable. b. The center purchased $2,000,000 of inventory on credit. c. The center provided $9,100,000 of patient services on credit. d. The center incurred $4,660,000 of labor expenses, which it paid in cash. e. The center consumed $1,930,000 of supplies from its inventory in the provision of its diagnostic services. f. The center paid $45,000 in cash for outstanding short-term notes payable. 9. The center collected $7,650,000 in cash from outstanding accounts receivable. h. The center paid $1,800,000 in cash for outstanding accounts payable. i. The center issued $3,800,000 in long-term bonds that it must pay back. J The center purchased $3,000,000 in new equipment using a short-term note payable. k. The center incurred $51,000 in interest expense, which it paid in cash. I. The center incurred $1,050,000 in general expenses, which it paid in cash. m. T he center made a cash payment of $780,000 toward principal payment of its out- standing bonds. n. A local corporation gave an unrestricted $46,000 cash donation. Hint: this transac- tion increases the unrestricted net assets account.)