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Classify the following as one of the following: Patient service revenue Other exchange transaction revenue Contractual adjustment Other nonexchange transaction revenue Not recorded revenue 1.

Classify the following as one of the following:

  1. Patient service revenue
  2. Other exchange transaction revenue
  3. Contractual adjustment
  4. Other nonexchange transaction revenue
  5. Not recorded revenue

1.

Received $20 as co-pay from a patient for an out-patient visit. Billed $500 to insurance.

2.

Gift shop sales amounted to $1,500.

3.

Citizens Health Insurance paid $350 as final payment on the $500 billed for the patient in transaction 1.

4.

The hospital provided medical care valued at $20,000 for homeless citizens.

5.

A grateful patient contributed $1,000 for unrestricted use by the hospital.

6.

The hospital received $500 for CPR training it provided to the city fire department.

7.

The local retirees association contributed $2,000 of labor at the hospital information desk.

8.

The hospital received a $10,000 federal grant to provide immunizations to children.

9.

Patient accounts of $500 were written off a uncollectible.

10.

Pharmaceutical firms donated recently approved drugs valued at $8,000. The hospital uses a similar type drug in its operations.

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