P. 14-4 mis example, drawn from the actual financial statements of a major urban not-for-profit hospital, illustrates the main types of transactions ( in summary form) in which hospitals engage. The December 31, 2020, Statement of Net Assets of Mosholu Medical Center, a major urban hospital and research center, is presented. Mosholu Medical Center Statement of Net Assets as of December 31, 2020 Without Donor With Donor Restrictions Restrictions Assets Current assets Cash $ 5,878 $ 612 Receivables for patient care ($265,116 less 155,304 allowance for contractual adjustments and doubtful accounts of $109,812) 31,342 27,223 Other receivables 561,804 489,177 Marketable securities 66,847 521.174 $517,012Net Assets as of December 31, 2020 Without Donor Assets Restrictions With Donor Current assets Restrictions Cash Receivables for patient care ($265,1 16 less allowance for contractual adjustments 5,878 $ 612 and doubtful accounts of $109,812) 155,304 Other receivables Marketable securities 31,342 27,223 Other current assets 561,804 489,177 Total current assets 66,847 Noncurrent assets $ 521,174 $517,012 Property, plant, and equipment ($1,229,242 less accumulated depreciation of $535,822) $ 693,420 Other assets 27,653 Total noncurrent assets $ 721,073 Total assets $1,242,247 $517,012 Liabilities and net assets Current liabilities Accounts payable $ 134,304 Accrued wages and salaries 136,661 Total current liabilities $ 270,965 Noncurrent liabilities $701,688 Long-term debt Deferred revenue and other noncurrent liabilities 231,862 $ 933,550 Total noncurrent liabilities $1,204,514 Total liabilities $ 37,733 $517,012 Net assets $1,242,247 $517,012 Total liabilities and net assets The following transactions and events occurred in 2021: The hospital received pledges without donor restrictions of 95 /2,600 and pledges with donor restric tons of $216,000. It collected all of the pledges without donor restrictions and $ 180,000 of the pledgesDeferred revenue and other noncurrent liabilities Total noncurrent liabilities $701,688 231,862 Total liabilities $ 933,550 Net assets $1,204,514 Total liabilities and net assets $ 37, 733 $517,012 $1,242,247 $517,012 The following transactions and events occurred in 2021: The hospital received pledges without donor restrictions of $372,600 and pledges with donor restrict tions of $216,000. It collected all of the pledges without donor restrictions and $180,000 of the pledges with donor restrictions.Ith-care Providers 2. Cash gifts designated by donors for juvenile diabetes research amounted to $250,000 for the year. Dur- ing the year, $200,000 was expended for juvenile diabetes research. 3. The total services provided by the hospital to all patients during the year amounted to $1,270,697 at the hospital's established billing rates. Based on the contracted rates with third-party payers, the hospital expects to collect approximately $889,488 (70 percent) of this amount. Due to current economic con- ditions, it expects that $133,423 (15 percent of the 70 percent) will have to be written off as bad debts. 4. It also provided $93,600 in charity care, which it never expected to collect. 5. It collected $864,225 in patient accounts recorded in question 3. 6. It earned and fully collected other operating revenues from its parking garage of $1,000,000, cafeteria of $820,000, and gift shop of $610,000. 7. It earned $27,072 in investment income, of which $18, 144 is not restricted by donors and $8,928 is restricted. 8. The hospital sold marketable securities without donor restrictions to hire a well-known cancer researcher. It received $600,000 from investments that had a fair value of $550,000 at the end of the prior fiscal year. 9. It purchased equipment for its new gastroenterology unit of $435,600, all of which was paid for by liquidating marketable securities with donor restrictions. 10. It charged depreciation of $526,716. 11. Supplies were purchased in the amount of $800,000, all on account. 12. It incurred $1,775, 170 in wages and salaries, of which it paid $1,765,000. The balance was accrued. It also incurred $860,000 in other operating expenses (including those of auxiliary enterprises), of which it paid $797,750. The balance was vouchered (and thereby credited to accounts payable). 13. Other operating expenses for the year include insurance costs. However, under "retrospective" insur- ance policies, the hospital anticipates having to pay an additional $6,300 in premiums. 14. It incurred and paid $378,360 in costs related to contracts (an exchange transaction). It was reimbursed for $372,240 and expects to be reimbursed for the balance in the future. In addition, it received $5,400 in advances on other contracts. a. Prepare journal entries to record the transactions. Be sure to indicate whether each entry would affect fund types with or without donor restrictions. b. Prepare a statement of operations for 2021 and a statement of financial position as of December 31, 2021. P. 14-5 Seemingly similar contributions may have to