The following is Flapper Hospital’s pre adjusted trial balance as of December 31, 20X1:

The following additional information is available:

1. On August 1, 20X1, the hospital invested $60,000 (face value) in 8 percent government bonds that pay interest annually on August 1, commencing August 1, 20X2.

2. On January 1, 20X1, a three-year insurance premium was paid in advance.

3. One year’s rent was received in advance on March 1, 20X1.

4. One year’s rent was paid in advance by the hospital on May 1, 20X1.

5. On November 1, 20X1, the hospital issued its six-month, 10 percent note for $48,000 to a local bank in connection with a short-term loan. The interest was prepaid by the hospital.

6. On October 1, 20X1, the hospital issued $200,000 of 6 percent, ten-year bonds at face value. These bonds pay interest semiannually on October 1 and April 1, commencing April 1, 20X2.

7. Unpaid salaries and wages at December 31, 20X1, amounted to $16,800.

8. On September 1, 20X1, the hospital received nine months’ tuition in advance for one of its educational programs.

Required: (1) Enter the pre adjusted December 31, 20X1, balances in general ledger accounts. (2) Prepare, in general journal form, the necessary adjusting entries at December 31, 20X1. (3) Post the adjusting entries to the ledger accounts and prepare an adjusted trial balance at December 31, 20X1. (4) Prepare a statement of operations for 20X1 and a balance sheet at December 31, 20X1. (5) Prepare, in general journal form, the necessary closing entries at December 31, 20X1. (6) Post the closing entries to the ledger accounts. (7) Prepare a post-closing trial balance at December 31, 20X1.