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Remember to include dates and the appropriate accounts and amounts. (5 points each; total 25 points) 12. IUPUI Hospital begun its existence on January 1,
Remember to include dates and the appropriate accounts and amounts. (5 points each; total 25 points) 12. IUPUI Hospital begun its existence on January 1, 2021. The following 6 transactions occurred during he month. Make a journal entry for each transaction below. 1. On January 1, 2021 the IUPUI hospital purchased equipment for $2000 in cash 2. January 2, 2021, IUPUI Hospital borrowed a short-term 11% loan from a bank for $45,000. 3. Services were billed to patients on January 12, 2021: Ancillary Services Revenue $160,000 Routine services Revenue $10,000 4. A collection on patient accounts was $50,000 on January 28, 2021. 5. Interest on the bank loan was paid for $1761 on January 31, 2021 For transaction #1, post the amounts to applicable t-accounts for that journal entry ONLY. (4 points)
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