Beerbo Rental Agency has a January 1 December 31 fiscal year. The company has conducted business for the first three months of the current year. Below is a partial trial balance of certain accounts from Beerbo's general ledger. The March 31 balances below do not include the effects of adjusting journal entries.

An analysis of these accounts shows the following transactions / events (T/E):

1. The equipment depreciates $250 per month.
2. One-third of the unearned rent was recognized as revenue during the quarter.
3. Interest of $500 is accrued on the notes payable.
4. Supplies on hand total $850.
5. Insurance expires at the rate of $300 per month.

What fraction of this unearned rent revenue has been earned? (enter "1/12", "2/12, "3/12", "4/12", or "5/12")

How much unearned rent revenue has Beerbo earned for the year (thus far)? $ (enter dollar amounts with commas as needed)