Prepare journal entries to record the following transactions of a nonprofit hospital: 5. Depreciation on the equipment was $34,000. 6. Several adults donated their time (worth $5,000) selling merchandise in the hospital gift shop. 7. The hospital billed Medicare $100,000 for services provided at its established rates. The prospective billing arrangement gives Medicare a 40 percent discount from these rates. 8. An unrestricted donation of $4,000 was received. If a transaction does not require a journal entry, select No entry as your answers and leave the Debit and Credit answers blank (zero). Description Credit Ref. 5 Depreciation expense Debit 34,000 0 5,000 0 100,000 0 34,000 0 5,000 Contribution revenue (or gains)-Support without donor restrictions Patient accounts receivable 7 100,000 To record gross patient service revenue. 0 To record an adjustment based on the prospective billing arrangement. Cash Contribution revenue (or gains)-Support without donor restrictions 4,000 0 4,000