ANSWER QUESTION 2 PLEASE: SHOW ALL WORK.

Problem 1. A not-for-profit hospita, Barnes Hospital, had the olowing transactions: Patients were charged $360,000 for services. Of this amount, $60,000 was actually charged to the patients. Hospital officials anticipate that $14,000 wil be uncollectible. The remaining $300,000 was billed to insurance companies and other third-party payors. Officials believe that these companies will only pay $264,000 after determining reasonable costs for the procedures A. Insurance companies and other third-party payors paid $224,000 to cover 80% of the charges in A. The remaining amounts from these charges were denied and are not expected to be collected. B. An unrestricted pledge for $48,000 was received from a wealthy individual, but the money cannot be spent for several years. C. A local volunteer contributed services to the hospital to replace a retired worker. The value of these services was $11,000. D. Required: Prepare journal entries for the above transactions 2. During 2009, a voluntary health and welfare organization received unrestricted pledges of $120,000.40% were payable in 2009 with the remainder payable in 2010 (for use in 2011). Officials estimate that 10% of these pledges will be uncollectible. In addition, a local medical technician earning S10 per hour working for a hospital, contributed 320 hours of time to the charitable organization. If not for these donated services, an additional staff person would have been hired by the organization. Required: A. How much should the organization report as net public support for 2009? B. How should the organization record the contributed services