Problem 6 (Note: Record altransactions following the example in Figure 21 in Nowicki, p. 37.) Grading Grade: lout of max): 2 At September 30, Lion Hospital had the following end balances: Assets $1,400,000 Liabilities $500,000 Net Assets $900,000 The following transactions were completed during October: 1. Charged patients for services 2. Collected on patients' accounts 3. Purchased supplies an account 4. Used supplies in patient care activities 5. Paid cash an accounts payable 6. Paid employee salaries and wages for last month 7. Paid other expenses in cash 3455,000 $300,000 $57,400 $93,600 $38,800 $281.000 $68,000 Assets Expenses Liabilities Net Assets Revenues Opening Balances, 930 Transaction 1 Resulting Balances Transaction 2, a Transaction 2, Resuliding 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 (10/31)