General Hospital is a private,not-for-profit hospital.The following information is available about the operations.
1.Gross patient services charges totaled $3,700,000.
2.Included in the above revenues are: charity services,$360,000; contractual adjustments,$1,200,000; courtesy allowances,$20,000; and estimated uncollectible amounts,$250,000.
3.Premium fees receipts were $110,000.
4.Purchased $75,000 of hospital supplies on account,with payments on that account,$36,000.
5.Received cash donations for a new hospital wing of $2,500,000.
6.Paid contractor $275,000 for billed costs toward the new hospital wing.
Required:
Prepare journal entries for the aforementioned transactions.

Question

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The Answer of General Hospital is a private,not-for-profit hospital.The following information is available about the operations.
1.Gross patient services charges totaled $3,700,000.
2.Included in the above revenues are: charity services,$360,000; contractual adjustments,$1,200,000; courtesy allowances,$20,000; and estimated uncollectible amounts,$250,000.
3.Premium fees receipts were $110,000.
4.Purchased $75,000 of hospital supplies on account,with payments on that account,$36,000.
5.Received cash donations for a new hospital wing of $2,500,000.
6.Paid contractor $275,000 for billed costs toward the new hospital wing.
Required:
Prepare journal entries for the aforementioned transactions.

General Hospital Is a Private,not-For-Profit Hospital