The following selected events and transactions were recorded by Milos County Hospital. 1. Gross charges for hospital services, all charged to accounts and notes receivable, were as follows: Patient service revenue $1,664,900 2. The hospital cafeteria and gift shop had cash sales of $295,300. 3. Additional information determined subsequently to recording patient service revenues and relating to the current year is as follows: Contractual adjustments Provision for bad debts Charity care $632,000 30,200 261,400 4. A federal cost reimbursement research grant of $350,000 was awarded. As of the end of the year, $200,000 in expenses related to the grant had been made. 5. Vouchers totaling $1,326,540 were issued for the following items: Fiscal and administrative services expenses General services expenses Nursing services expenses Other professional services expenses Inventory Expenses accrued at December 31 $ 194,440 253,100 585,000 185,600 101,200 7,200 6. Collections of accounts receivable totaled $1,159,000. Accounts written off as uncollectible amounted to $11,900. 7. Cash payments on vouchers payable (paid to employers and suppliers) during the year were $1,031,200. 8. Supplies of $99,770 were issued to nursing services. 9. On December 31, accrued interest income on investments was $800. 10. Depreciation of buildings and equipment was as follows: Buildings Equipment $51,000 73,000 11. On December 31, closing entries were made in the general journal. . Prepare closing entries in accordance with the standards for a governmental health care entity that follows proprietary fund accounting. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Answer is not complete. No Transaction General Journal Debit Credit 01 Patient Service Revenue 1,404,300 X Investment Income 1,600 Revenues-Grants and Contributions 280,000 296,100 X Revenues-Other Net Position-Unrestricted 441,310 X Contractual Adjustments Provision for Bad Debts Research Expenses Fiscal and Administrative Service Expenses General Service Expenses Nursing Services Expenses Other Professional Services Expenses Depreciation Expense 640,000 X 31,000 X 280,000 X 198,440 X 253,900 X 693,570 X 186,400 X 140,000 X b. Calculate the net patient service revenue that would be reported on the statement of revenues, expenses, and changes in net position. X Answer is complete but not entirely correct. MILOS COUNTY HOSPITAL Statement of Revenues, Expenses, and Changes in Net position (partial) Patient Service Revenue Adjusted for Charity Care $ 1,404,400 X Less: Contractual Adjustments 641,000 X Less: Provision for Bad Debts 31,100 X Net Patient Service Revenue $ 732,300