Not sure where to start. I need help completing this problem. With the information given below, I need help making a balance sheet and a statement balance.
12. Transactions plus multiple statements. The following are the financial transactions for the Family Home Health Care Center, a not-for-profit, business- oriented organization. Beginning balances at January 1, 20X1, for its assets, liabilities, and net assets accounts, are shown in the following list. Givens Cash $6,500 Accounts receivable $70,000 Allowance for uncollectibles $7,500 Supplies $15,000 Long-term investments $50,000 Properties and equipment $1,000,000 Accumulated depreciation $100,000 Short-term accounts payable $54,000 Other current liabilities $3,500 Long-term debt $780,000 Net assets without donor restrictions $178,500 Net assets with donor restrictions $18,000 List and record each transaction under the accrual basis of accounting. Then develop a balance sheet as of December 31, 20X1 and 20Xo, and a statement of operations for the year ended December 31, 20X1. a. The center purchased $5,000 of supplies on credit. b. The center provided $600,000 of home health services on credit. c. The center consumed $12,000 of supplies in the provision of its home health services. d. The center provided $225,000 of home health services, and patients paid for services in cash. e. The center paid cash for $7,000 of supplies in the provision of its home health services. f. The center paid $38,000 in cash for supplies previously purchased on credit. g. A donor established a $70,000 donor restricted endowment fund by contributing long-term investments to the center. (Hint: this transaction increases the donor restricted net assets account.) h. The center collected $450,000 from patients for outstanding receivables. i. The center paid $275,000 in cash toward labor expense. j. The center paid $55,000 in a principal payment on its long-term loan. k. The center purchased $52,000 in small equipment on credit. The amount is due within one year. 1. The center incurred $40,000 in general expenses. The center used cash to pay for the general expenses. m. The center incurred $13,000 in interest expense for the year, which it paid in cash to the bank. n. The center made a $12,000 cash transfer to its parent corporation. o. The center recognized labor expense of $8,500, but did not pay for it yet. p. The center recognized depreciation expenses of $30,000. q. The center estimated it would not collect $65,000 of the patient accounts receivable and recorded the amount as bad debt expense