(Note: Record all transactions following the example in Figure 2.1 in Nowicki, p. 37.) At October 30, County General Hospital had the following end balances: Assets $1,300,000 Liabilities $600,000 Net Assets $700,000 The following transactions were completed during October: 1. Charged patients for services $565,000 2. Collected on patients' accounts $270.000 3. Used supplies in patient care activities $77,600 4. Paid cash on accounts payable $12.050 5. Paid other expenses in cash $11,230 6. Paid employee salaries and wages for last mon $375,600 7. Purchased supplies on account $67,540 Assets + Expenses = Liabilities + Net Assets + Revenues Opening Balances, 9/30 Transaction 1 Resulting Balances Transaction 2, a Transaction 2, b Resulting Balances Transaction 3 Resulting Balances Transaction 4 Resulting Balances Transaction 5 Resulting Balances Transaction 6 Resulting Balances Transaction 7 Resulting Balances Closing Entry (profit) Closing Balances (11/31)