Karen white helped organize a charity fund to help cover the medical expenses of a friend of hers who was seriously injured in a bicycle accident. the fund was named vicky hill recovery fund (VHRF). Karen contributed $1000 of her own money to the fund. The $1000 was paid to WKUX, a local radio station that designed and played an advertising campaign to educate the public as to the need for help. The campaign resulted in the collection of $21,000 cash. VHRF paid $13,400 to mercy hospital to cover Vicky's hospital cost. The remaining $7600 was contributed to the National Cyclist Fund. Required:
Identify the entities that were mentioned in the scenario and explain what happened to the cash accounts of each entity that you identify.
Entities Mentionerd Effect On Cash
Vicky Hill Recovery Fund for cash contributions, $16,400
for payment of advertising, $1,400
payment for hospital bills, $10,500
for donation to National Cyclist Fund, $4,500
Karen White by contribution, $1,400
WKUx for advertising revenue, $1,400
Public for contributions, $15,000
Mercy Hospital for medical care, $10,500
National Cyclist Fund for donation, $4,500