Problems P3-1 Accrual basis accounting Oasis Health Care Inc. is owned and operated by Dr. George Hancock, the sole stockholder. During January 20Y6, Oasis Health Care entered into the following transactions: 2 Received $15,000 from Rivers Company as rent for the use of a vacant office in Oasis Health Care's building. Rivers paid the rent six months in advance. Jan. 1 1 Paid $4,200 for an insurance premium on a general business policy 6 Purchased supplies of $1,800 on account. 9 Collected $27,500 for services provided to customers on account. 11 Paid creditors $3,000 on account. 18 Invested an additional $25,000 in the business in exchange for capital stock. 20 Billed patients $62,000 for services provided on account. 25 Received $12,900 for services provided to customers who paid cash. 30 Paid expenses as follows: wages, $24,000; utilities, $6,000; rent on medical equip- ment, $5,000; interest, $200; and miscellaneous, $2,500. Paid dividends of $15,000 to stockholders (Dr. Hancock). 30 Instructions nalyze and record the January transactions for Oasis Health Care Inc., using the integrated I statement framework. Record each transaction by date, and show the balance for ach transaction. The January 1, 20Y6, balances for the balance sheet are each item after e shown below. Stockholders Assets Equity Accts. Un. Wages Notes Capital Retained Cash + Rec. + Ins. + Supp. + Building-Depr + Land = Pay. + Rev.+ Pay. + Pay, + Stock + Earnings 000227,500 Liabilities Accts. Pre Acc. 20,000 34,500 700 1,000 150,000-11,200 120,000 7,500 0 0 30,000 50