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During $2024,$ the following transactions were recorded by the Port Hudson Community Hospital, a private$-$sector not$-$for$-$profit institution:

Gross charges for patient services, all charged to Patient Accounts Receivable, amounted to $$1,660,000.$ Estimated contractual adjustments with third$-$party payors amounted to $$415,000,$ and the hospital estimated implicit price concessions would total $35,200.$

Charity services, not included in transaction $1,$ would amount to $$88,000$ had billings been made at gross amounts.

Other revenues received in cash were parking lot, $$31,000$; cafeteria, $$35,400$; gift shop, $$5,500.$

$.$ Cash gifts restricted by the donor for programs amounted to $$35,350$ for the year. During the year, $$69,800$ was expended for technician salaries supporting the program identified by the donor $($Debit Operating Expense$-$Salaries and Benefits$).$

Mortgage bond payments amounted to $$67,600$ for principal and $$41,200$ for interest. Assume unrestricted resources are used During the year, the hospital received, in cash, unrestricted contributions of $$57,400$ and unrestricted income of $$48,750$ from endowment investments. $($It is the hospital's practice to treat unrestricted gifts as nonoperating income.$)$

New equipment, costing $$279,000,$ was acquired using donor$-$restricted cash that was on hand at the beginning of the year

An old piece of lab equipment that originally cost $$160,000$ and had an undepreciated cost of $$32,000$ was sold for $$18,000$ cash.

At the end of $2024,$ pledges $($restricted as to purpose$)$ were received in the amount of $$52,500.$ These are intended to be received and expended in $2025$

$10.$ Cash contributions were received from donors restricted for plant acquisition, $$181,000.$

$11.$ Bills were received for the following items: utilities, $$153,300,$ and insurance, $$88,800.$ These will be paid in January of $2025$

$12.$ Depreciation of plant and equipment amounted to $$213,000$

$13.$ Cash payments on accounts payable amounted to $$197,700.$ Another $$838,000$ was expended on wages and benefits

$14.$ Cash collections of patient accounts receivable amounted to $$1,202,000.$ These were in settlement of patient accounts totaling $$1,623,000.$ Contractual adjustments associated with these totaled $$415,000,$ and price concessions totaled $$6,000.$

$15.$ Closing entries were prepared.

Required:

a$.$ Record the transactions in the general journal of the Port Hudson Community Hospital

b$.$ Prepare a Statement of Operations for the Port Hudson Community Hospital for the year ended December $31,2024.$

c$.$ Prepare a Statement of Changes in Net Assets for the Port Hudson Community Hospital for the year ended December $31,2024$ Assume beginning net assets are $$7,080,000.$

Complete this question by entering your answers in the tabs below.

Required B Required $C$

Record the transactions in the general journal of the Port Hudson Community Hospital

Note: If no entry is required for a transaction or event, select $"$No Journal Entry Required" in the first account field.

Journal entry worksheet

Record the gross charges for patient services, all charged to Patient Accounts Receivable, amounted to $$1,660,000$

Journal entry worksheet

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Record the gross charges for patient services, all charged to Patient Accounts Receivable, amounted to $$1,660,000.$

Note: Enter debits before credits.

$\backslash$table$[[$Transaction$,$General Journal,Debit,Credit$],[1$a$,,,],[,,,],[,,,],[,,,],[,,,]]$

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