Problems Obj. 2 P3-1 Accrual basis accounting San Mateo Health Care Inc. is owned and operated by Rachel Pields, the sole stockholder. During January 2016, San Mateo Health Care entered into the following transactions Jan. 1 Received $27,000 from Hillard Company as rent for the use of a vacant office in San Mateo Health Care's building. Hillard paid the rent nine months in advance. 1 Pald $6,000 for a one-year general insurance business policy. 6 Purchased supplies of $1,800 on account. 9 Collected $32,000 for services provided to customers on account. 11 Paid creditors $5,000 on account 18 Invested an additional $10,000 in the business in exchange for common stock. 20 Billed patients $52,000 for services provided on account 25 Received $15,000 for services provided to customers who paid cash. 30 Pald expenses as follows: wages, $31,000, utilities, $8,500; rent on medical equip ment, 55,300; Interest, $200; and miscellaneous, 53,000 30 Pald dividends of $8,000 to stockholder (Dr. Fields). Instructions Analyze and record the January transactions for San Mateo Health Care Inc, using the integrated financial statement framework. Record each transaction by date, and show the balance for each item after each transaction. The January 1, 2016, balances for the balanse sheet are shown below. - Accs Pre Cash Rec ins + Supa Balin.1 20.000 44500 700 1200 Ace Building - Depr + Land 150.000 (11.2001 120.000 Acets. Un Pay Rev 7.700 0 Liabilities Wages Notes Pay Pay 0 30.000 Stockholders' Equity Common Retained Stock Earnings 50.000 217.500