Santa Maria Hospital is a non-profit organization located in Bulacan. Given below are the transactions andevents of its General Fund for October 20X1:• Gross patient service revenues of P80,000 were billed to patients. Indigent charity care amounted toP4,000, of which P2,500 was a receivable from Social Medicare of P6,000 and doubtful accounts ofP8,000.Contributed services approximating P10,000 at going salary rates were received from volunteer nurses.Meals costing P200 were served to the volunteer nurses at no charge by the Santa Maria Hospitalcafeteria.New unrestricted pledges due in three (3) months, totaling P5,000, were received from various donors.Collections on pledges amounted to P3,500, and the provision for doubtful pledges for the month wasP800.The amount of P3,000 received from the Restricted Fund was expended for new surgical equipment,as authorized by the donor.Required: Prepare the journal entries for the transactions of Santa Maria Hospital for October.

Step 1 Journal is the Part of Book Keeping.

Answered: events of its Ger tie

Business

Accounting

events of its Ger tie

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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