Question: 1 Problem 4 (15 points] Required: Prepare Journal entries to record the following transactions. Patient service charges totaled $14,000,000; 2% is expected to be uncollectible

1 Problem 4 (15 points] Required: Prepare Journal entries to record

1 Problem 4 (15 points] Required: Prepare Journal entries to record the following transactions. Patient service charges totaled $14,000,000; 2% is expected to be uncollectible and; $1,540,000 of contractual adjustments are expected to be made. 2. Received premium fees for the month, $175,000. Only half of the covered patients actually received any treatments during the month. 3. Received contributions for a restricted program, $3,500,000 4. Incurred expenses for the restricted program, $2,100,875. 5. Received contributions restricted for purchase of MRI equipment, $1,050,000 Purchased MRI equipment, $840,000. 6 7 Received contribution in the form of a term endowment, $525,000

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