Show Entries in General Journal Form for the Following Transactions

question 30

Essay

Show entries in general journal form for the following transactions of Bothwell Regional Hospital,a not-for-profit hospital.
1)For the month just ended the hospital received in cash $8,000 from the hospital's gift shop sales,and received donated medicines with a fair value of $47,000.These medicines are of the type the hospital normally would purchase.
2)The hospital's finance officer,in compliance with the directive of the governing board,invested $600,000 of operating cash in certificates of deposit to be held for future purchases of equipment.
3)New fixed equipment costing $750,000 was purchased from money given the hospital in a prior year to be held until needed for equipment purchases.
4)A federal grant was received in cash in the amount of $400,000 to be used for heart research.During the current year only $50,000 was spent for this research program.

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Definitions:

Center

The middle point of a shape, object, or group of points, often equidistant from all outer edges or surfaces.

Radius

The distance from the center to the circumference of a circle or sphere.

Parabola

A symmetrical, open curve that represents the graph of a quadratic function, defined as the set of all points equidistant from a point called the focus and a fixed line called the directrix.

Focus

A specific point used in the definition of conic sections, such as ellipses and hyperbolas, that helps determine their shape.