Refer to the information below regarding Lakeland Medical Center to answer the following questions: Lakeland Medical Center Financial Statement Description Amount Allowance for doubtful accounts $110 Cash $1,400 Accounts receivable $2,330 Accounts payable $1,110 Service revenue $14,600 Other assets $350 Cost of services sold and other expenses $12,700 Notes payable $3,280 How much net income did Lakeland earn for the month? Enter answer here. Show two ways Lakeland can report receivables on its classified balance sheet.

Presented below is information for Blossom Company. 1. Beginning-of-the-year Accounts Receivable balance was $20,800. 2. Net sales (all on account) for the year were $109,600. Blossom does not offer cash discounts. 3. Collections on accounts receivable during the year were $81,000. (a) Prepare (summary) journal entries to record the items noted above. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation 1. 2. Your answer is correct. 3. (b) No Entry No Entry Accounts Receivable Sales Revenue Cash Accounts Receivable eTextbook and Media List of Accounts Accounts receivable turnover Debit Days to collect accounts receivable times 0 days 109,600 81000 Compute Blossom's accounts receivable turnover and days to collect receivables for the year. The company does not believe it will have any bad debts. (Round answers…

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Below is a list of accounts for Currie Hospital for December 2013 (annual amounts). Prepare a statement of operations for 2013 in good form.   Account Amount Administrative expenses $80,000 Net assets released from temporarily restricted accounts for operations 120,000 Labor expense 260,000 Interest expense 12,000 Net patient service revenue 840,000 Supply expense 88,000 Transfer to parent corporation 10,000 Bad debt expense 40,000 Depreciation expense 50,000