Team Project M III.1: Cure All Hospital (CAH) started 2017 with the balance sheet below, which is the balance sheet for 2016. During 2017, CAH reported fourteen financial transactions as also shown below. Create a transactions worksheet in an Excel file, which records all the transactions.

Transaction 1: CAH purchased a two-year fire insurance for $300 on January 28. CAH paid $300 in cash.

Transaction 2: CAH paid back $7,000 of what it owed at the beginning of 2017 in cash on February 1.

Transaction 3: CAH purchased supply items to prepare for its upcoming fundraising event scheduled at the end of the first quarter. The supply items have been delivered and CAH paid $3,000 in cash on March 14.

Transaction 4: CAH planned to have another fundraising event in the second quarter and purchased another batch of supply items for $6,000 on credit. The supply items were delivered on April 2.

Transaction 5: CAH managed to expedite the collection of uncollected revenues on May 15. CAH successfully collected $11,000 of accounts receivable.

Transaction 6a: On June 10, CAH provided treatment services and earned $76,000 of patient revenues. CAH collected $20,000 in cash and the remaining balance has not yet been paid.

Transaction 6b: For Transaction 6a, CAH used $2,000 of inventory asset.

Transaction 7: CAH ordered a new X-ray machine for $250,000 on June 30. The machine has not yet been delivered and the payment has not yet been made.

Transaction 8: CAH paid $60,000 of wages payable it owed in 2016 on August 15. CAH also reported $35,000 labor expense in 2017. CAH decided to pay $25,000 of the labor expense in 2018.

Transaction 9: CAH collected $5,000 of accounts receivable on September 24.

Transaction 10: CAH made a mortgage payment of $25,000. The payment reduced the mortgage loan balance of $8,000 while the rest was interest payment for the mortgage loan on November 30.

Transaction 11: CAH made a year-end adjustment for the fire insurance.

Transaction 12: CAH owed its administrative staff $33,000 that CAH will pay in 2018.

Transaction 13: CAH made a year-end depreciation adjustment for its plant and equipment. The annual depreciation expense was $11,000.

ASSETS Current Assets Cash Accounts Receivable Invento Prepaid Insurance 96,000 12,000 6,000 100 LIABILITIES AND NET ASSETS Liabilities Current Liabilities Accounts Payable Wages Payable Total Current Liabilities S 8,100 78 86 Total Current Assets Long-Term Liabilities 114 100 Mortgage Payable Total Long-Term Liabilities Total Liabilities Net Assets Unrestricted Temporarily Restricted 211,000 211,000 297,100 141,000 Long-Term Assets Fixed Assets Property Equipment, Net Total Long-Term Assets $62,000 $70,000 273,000 and 456,000 $456,000 $570,100Assets Permanently Restricted Total Net Assets Total Liabilities and Net Total Assets $570,100