Reference no: EM131830020
Problem - Cupfull Hospital completed the following transactions during the month of October 20x1....
1. New equipment purchased for 16,000
2. Supplies purchased on account for 36,400
3. Supplies that had cost 31,200 were issued from inventory for use in hospital activities
4. Payments on accounts payable were 34,700
5. Services rendered to patients during the month were billed as follows
Routine services 84,300
Ancillary services 47,900
Total 132,200
6. Collections on patients' accounts totaled 105,750.
7. Other revenues collected in cash amounted to 13,600
8. Operating expenses were paid as follows
Salaries and wages 82,400
Utilities 8,700
Insurance 2,900
Repairs 1,600
Other expenses 7,300
Total 102,900
9. A short term, 9% loan of 15,000 was obtained from a local bank (disregard interest)
Question: Prepare, in good form, journal entries for each of the preceding transactions.