Cocktail Hospital’s trial balance at January 1, 20X1, includes the following accounts:

The hospital completed the following transactions during the month ended January 31, 20X1:

1. Purchases of supplies on account were $4,900.

2. Supplies that had cost $5,200 were issued from inventory for use in hospital activities.

3. Services billed to patients were as follows:

4. Cash collections on patients’ accounts were $59,100.

5. Payments on accounts payable totaled $5,070.

6. Other revenues received in cash amounted to $7,300.

7. Operating expenses included these payments:

8. Payment of interest on bonds and bank loan totaled $870. Required: Using the chart of accounts provided in Figure 3.1, (1) enter the January 1, 20X1, balances in ledger accounts, (2) journalize the January 20X1 transactions, (3) post the transaction entries to the ledger accounts, (4) prepare a trial balance at January 31, 20X1, (5) prepare a statement of operations for January 20X1, and (6) prepare a balance sheet at January 31, 20X1.