Oak Street Clinic (not for profit) began 2015 with the following account balances on January 1

Cash 700000

Accounts receivable 245000

Allowance for doubtful accounts 18000

Supplies Inventory 24000

Equipment 1500000

Accumulated Depreciation 300000

Accounts payable 21000

Notes payable 500000

Net assets 1000000

During 2015, the accounting clerk recording the following transactions

1. Billed patients for services rendered 1,700,000

2. Purchased medical supplies on credit 12,000

3. Employee salaries earned 712,000

4. Employee salaries paid 683,000

5. Annual depreciation on equipment 150,000

6. Received a bank loan 250,000

7. Cash collections on patient billings 1,124,000

8. Estimated bad debts for year 44,000

9. Made payment on bank loan 75,000

10. Used medical supplies in patient care 10,000

Oak Street Clinics year end is December 31. Construct the 2015 balance sheet and income statement for the clinic, using the beginning account balances and incorporating the effects of each transaction. Show answer in credit/debit format. Do not just show a bunch of calculations. for every single point put if it is debited or credited. Especially for the balance sheet.

PLEASE EXPLAIN IN DETAILS

Thank you.