Karen White helped organize a charity fund to help cover the medical expenses of a friend of hers who was seriously injured in a bicycle accident. The fund was named Vicky Hill Recovery Fund (VHRF). Karen contributed $600 of her own money to the fund. The $600 was paid to WKUX, a local radio station that designed and played an advertising campaign to educate the public as to the need for help. The campaign resulted in the collection of $27,000 cash. VHRF paid $16,500 to Mercy Hospital to cover Vickys outstanding hospital cost. The remaining $10,500 was contributed to the National Cyclist Fund.

Required

Identify the entities that were mentioned in the scenario and explain what happened to the cash accounts of each entity that you identify.

Karen White helped organize a charity fund to help cover the medical expenses of a friend of hers who was seriously injured in a bicycle accident. The fund was named Vicky Hill Recovery Fund (VHRF). Karen contributed $600 of her own money to the fund. The $600 was paid to WKUX, a local radio station that designed and played an advertising campaign to educate the public as to the need for help. The campaign resulted in the collection of $27,000 cash. VHRF paid $16,500 to Mercy Hospital to cover Vicky's outstanding hospital cost. The remaining $10,500 was contributed to the National Cyclist Fund. Required Identify the entities that were mentioned in the scenario and explain what happened to the cash accounts of each entity that you identify Entities Mentioned Vicky Hill Recovery Fund Effect On Cash for cash contributions, $27,600 for payment of advertising, $600 payment for hospital bills, S16,500 for donation to National Cyclist Fund, $10,500 by contribution, $600 for advertising revenue, 5600 for contributions, $27,000 for medical care, $16,500 for donation, $10,500 Karen White WKUX Public Mercy Hospital National Cyclist Fund