A private not-for-profit hospital provides medical care for a variety of patients. The following activities occurred in the first quarter of 2020. a. Charged patients $5,250,000 for medical services. Third party payors (insurance companies) were billed for 75% of that amount. The hospital anticipates that the third party payors will only pay 80% of the amount billed. In addition, they anticipate that of the amounts billed to patients, 10% will be charity care and 5% will be uncollectible. b. The hospital received $3,000,000 from third party payors and $1,050,000 of the amounts charged to patients in a. Required: 1. Prepare journal entries for the transactions described above. 2. Prepare a Statement of Activities that reflects the changes in net assets for unrestricted, temporarily restricted, and permanently restricted net assets