Problem #1 Record the following transactions for Porter Hospital, a private, nonprofit hospital: Gross patient services revenues: $25,000,000. Billed to patients. 2. Included in the above revenues...

Problem #1

 Record the following transactions for Porter Hospital, a private, nonprofit hospital:

1. Gross patient services revenues: $25,000,000. Billed to patients.

     2. Included in the above revenues are: charity services, $500,000;        contractual adjustments, $11,000,000; and estimated uncollectible amounts, $250,000.

3. Purchased equipment by issuing a 5-year note for $200,000.

4. Received cash donations restricted for a capital building addition program, $5,100,000.

5. Incurred and paid $1,700,000 of contractor billings for the capital building program.