Record each journal entry. $($record the answers in thousands$)$ a$)$Dr$.$ Cr$.$HHL took out a long$-$term loan for $$3$Mb$)$Dr$.$ Cr$.$HHL purchased $$1$M in inventory with cashc$)$Dr$.$ Cr$.$HHL purchased equipment that cost $$150,000$ on account.The equipment is expected to last $15$ years and has no salvage value.d$)$Dr$.$ Cr$.$ Dr$.$ Cr$.$$$540,865,000($net of allowances and charity care$)$ was billed for patient services.The hospital estimates that $5\%$ of these bills will be bad debt.e$)$Dr$.$Cr$.$ $$875,000$ of inventory was used.f$)$Dr$.$ Cr$.$Donations of $$400,000$ were received in cash.g$)$Dr$.$Dr$.$ Cr$.$HHL pays cash for a $2-$year malpratice insurance premium at a cost of $$5$M$.$ One half of the premium is for next year, and the other is for the following year.h$)$Dr$.$ Cr$.$ HHL pays $$12,560,000$ in accounts payable.i$)$Note this question requires $3$ jounral entriesDr. Cr$.$Dr$.$ Cr$.$Dr$.$Cr$.$HHL workers earned $$259$M in wages for the year. The hospital paid out $$282$M in cash. It also paid out $$60$M in benefits, all in cash.j$)$Dr$.$ Cr$.$The equipment purchased in transaction c$)$ was paid for in cash.k$)$Dr$.$ Cr$.$$$370,500,000$ from bills sent to patients was received in cash.l$)$Dr$.$ Cr$.$HHL collected $$25$M in outstanding patient bills in cash.m$)$Dr$.$ Cr$.$Dr$.$ Cr$.$The board is concerned that too much debt outstanding is bad for the organization. The board chooses to accelerate their debt payments for the year. HHL paid out $$51$M in long$-$term debt principal and $$3$M in interest in cash.n$)$Depreciation of new equipment $=$ $$150,000/15=$ $$10,000$Dr$.$Cr$.$ Dr$.$ Cr$.$Depreciation for the year was recorded $-$ $$23$M for existing fixed assets. Also, calculate the new depreciation necessary for the new equipment purchased this year, assuming straight$-$line depreciation.o$)-$ note this question requires $3$ journal entriesDr.Cr$.$ Dr$.$ Cr$.$