On December 1, Todd Hospital had $380,000 of assets, $120,000 of liabilities, and $260,000 of net assets. Transactions completed during the month of December were as follows:

1. The hospital borrowed $20,000 from a bank.

2. Supplies purchased on account amounted to $14,000.

3. Supplies issued from inventory and used in patient care amounted to $10,000. Patients were billed for $16,000.

4. Employees were paid $28,000 of salaries and wages.

5. New equipment was purchased for $4,000 cash.

6. Patients were billed for $26,000 of other services.

7. The bank loan was paid off with a disbursement of $20,300, including interest of $300.

8. Payments on accounts payable amounted to $11,000.

9. Collections on accounts receivable were $39,000.

Required: (1) Prepare a debit and credit analysis of the nine transactions in T-account form, including a closing entry at December 31. (2) Indicate the balance of each account at December 31.