Reference no: EM132557803

Question - 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.