P3 - 1 Accrual basis accounting Oasis Health Care Inc. is owned and operated by Dr. George Hancock , the sole stockholder . During January 20Y's, Oasis Health Care entered into the Following transactions ! Jan . 1 Received $15, 090 from Rivers Company as rent For the use of a vacant office in Oasis Health Care's bullding . Pervers paid the rent six months In advance . 1 Paid $ 1, 200 For an insurance premium on a general business policy* Purchased supplies of $ 1, 9040 on account . Collected $ 27, 500 For services provided to customers on account 11 Paid creditors $3, 400 an account . BI Invested an additional $25, 000 in the business in exchange for capital stock . 20 Billed patients $62,0010 For services provided on account . 25 Received $12.010 for services provided to customers who paid cash . 3.0 Paid expenses as follows: wages , $24, 200; utilities, $6, 000 , rent on medical equip ment , $5 , 000 ; interest , $200; and miscellaneous , $2, 500 . 30 Paid dividends of $15, 000 to stockholders ( Or . Hancock ). Instructions Analyze and record the January transactions for Oasis Health Care Inc , using the Integrated Financial statement Framework . Hecord each transaction by date , and show the balance For each item after each transaction . The January 1, 2076, balances for the balance sheet are shown below . Stockholders" Assets Liabilities Equity Accts . PIC. ACE Accts Un. Wages Notes\\ Capital Retained Cash + Rec. + Ins. + Supp. + Building - Dept. + Land = Pay. + Rev. + Pay. + Pay. + Stock + Earnings Bal, Jan . 1 20, 000 34.500 700 1, 000 150, 000 - 11, 200 120,00.0 $ 7.50.0 30,000\\ 50,000 2:27. 500