Caring Community Hospital a not for profit hospital

recorded the following transactions 1 #6838

Caring Community Hospital, a not-for-profit hospital, recorded the following transactions.1.
Received $20 as co-pay from a patient for an out-patient visit. Billed $500 to insurance.2. Gift
shop sales amounted to $1,500.3. Citizen's Health Insurance paid $350 as final payment on the
$500 billed for the patient in transaction 1.4. The hospital provided medical care valued at
$20,000 for homeless citizens.5. A grateful patient contributed $1,000 for unrestricted use by
the hospital.6. The hospital received $500 for CPR training it provided to the city fire
department.7. The local retirees association contributed $2,000 of labor at the hospital
information desk.8. The hospital received a $10,000 federal grant to provide immunizations to
children.9. Patient accounts of $500 were written off as uncollectible.10. Pharmaceutical firms
donated recently approved drugs valued at $8,000. The hospital uses a similar type drug in its
operations.a. Patient service revenueb. Contractual adjustmentsc. Other revenue (exchange)d.
Other revenue (non exchange)e. No revenueRequiredFor each transaction, indicate which
revenue classification would be affected by selecting the letter or letters of that (those)
classification(s) from the list in the right-hand column.View Solution:
Caring Community Hospital a not for profit hospital recorded the following transactions 1

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