During 2017, 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 $1,840,000. Contractual adjustments with third-party payers amounted to $495,000.
2. Charity services, not included in transaction 1, would amount to $74,000, had billings been made at gross amounts.
3. Other revenues, received in cash, were parking lot, $24,000; cafeteria, $41,000; gift shop, $7,000.
4. Cash gifts for cancer research amounted to $29,400 for the year. During the year, $57,200 was expended for cancer research technicians salaries (debit Operating ExpenseSalaries and Benefits).
5. Mortgage bond payments amounted to $56,400 for principal and $32,800 for interest. Assume unrestricted resources are used.
6. During the year, the hospital received, in cash, unrestricted contributions of $47,600 and unrestricted income of $40,000 from endowment investments. (It is the hospitals practice to treat unrestricted gifts as nonoperating income.)
7. New equipment, costing $160,000, was acquired using donor-restricted cash that was on hand at the beginning of the year. Port Hudsons policy is to record all equipment in the unrestricted net asset class.
8. An old piece of lab equipment that originally cost $90,000 and that had an undepreciated cost of $18,000 was sold for $11,000 cash.
9. At the end of 2017, pledges received in the amount of $140,000 were intended to be paid and used for unrestricted purposes in 2018.
10. Cash contributions were received as follows: temporarily restricted for purposes other than plant, $45,000; temporarily restricted for plant acquisition, $138,000.
11. Bills totaling $227,400 were received for the following items:

Utilities	$	144,200
Insurance		83,200

12. Depreciation of plant and equipment amounted to $192,000.
13. Cash payments on vouchers payable amounted to $178,800. Another $809,200 was expended on wages and benefits. Cash collections of patient accounts receivable amounted to $1,188,000.
14. Closing entries were prepared.

Required: a. Record the transactions in the general journal of the Port Hudson Community Hospital.

1. Gross charges for patient services, all charged to Patient Accounts Receivable, amounted to $1,840,000.

2. Contractual adjustments for patient services with third-party payers amounted to $495,000.

3. Charity services, not included in transaction 1, would amount to $74,000, had billings been made at gross amounts.

4. Other revenues, received in cash, were parking lot, $24,000; cafeteria, $41,000; gift shop, $7,000.

5. Record the cash gifts received for cancer research.

6. Record the cancer research technicians salaries

7. Record the reclassification of assets in satisfaction of program restrictions.

8. Mortgage bond payments amounted to $56,400 for principal and $32,800 for interest. Assume unrestricted resources are used.

9. During the year, the hospital received, in cash, unrestricted contributions of $47,600 and unrestricted income of $40,000 from endowment investments. (It is the hospitals practice to treat unrestricted gifts as nonoperating income.)

10. Record the New equipment acquired.

11. Record the reclassification of net assets due to equipment acquisition

12. An old piece of lab equipment that originally cost $90,000 and that had an undepreciated cost of $18,000 was sold for $11,000 cash.

13. At the end of 2017, pledges received in the amount of $140,000 were intended to be paid and used for unrestricted purposes in 2018.

14. Cash contributions were received as follows: temporarily restricted for purposes other than plant, $45,000; temporarily restricted for plant acquisition, $138,000.

15. Record the Bills for utilities and insurance.

16. Depreciation of plant and equipment amounted to $192,000.

17. Record the cash payments on vouchers payable amounted to $178,800.

18. Record the another $809,200 was expended on wages and benefits.

19. Record the cash collections of patient accounts receivable amounted to $1,188,000.

20. Record the closing entries for operating revenues and expenses.

21. Record the year end reclassifications of net assets.

b. Prepare a Statement of Operations for the Port Hudson Community Hospital for the year ended December 31, 2017.