A hospital leases space to a physician's private practice for $24,000 per year. At the beginning of the year (assuming a calendar year-end), the rent was paid in full. The hospital uses the accrual basis of accounting.

(a) What is the balance in the hospital's deferred rental revenue account as of March 31?

(b) What is the balance in the hospital's rent income account as of September 30?

2. Accounts Receivable (A/R) and Net Realizable Value

A hospital provided goods/services for the month totaling $25,000,000 to various third-party payors. Build the table below (including column headers) in Microsoft Excel and complete the yellow highlighted cells to calculate the net A/R by the payor for the month. The calculations for Medicaid and Other Government are provided as an example of the proper format and calculation. Use the formulas within Excel to compute the answers. For example, use the SUM formula for the total columns. Format numbers using $ (zero decimals) and % (zero decimals) as indicated.