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Exercise $1-3$A $($Algo$)$ Identifying the reporting entities LO $1-2$

Karen White helped organize a charity fund to help cover the medical expenses of a friend of hers who was seriously injured in a bicycle accident. The fund was named Vicky Hill Recovery Fund $($VHRF$).$ Karen contributed $$500$ of her own money to the fund. The $$500$ was paid to WKUX, a local radio station that designed and played an advertising campaign to educate the public as to the need for help. The campaign resulted in the collection of $$17,000$ cash. VHRF paid $$13,100$ to Mercy Hospital to cover Vicky$$s outstanding hospital cost. The remaining $$3,900$ was contributed to the National Cyclist Fund.

Required

Identify the entities that were mentioned in the scenario and explain what happened to the cash accounts of each entity that you identify.