3. St. Joseph’s Hospital began operations in December 2023 with patient service revenues totaling $980,000 (based on customary rates) for the month. Of this, $207,000 is billed to patients, representing their insurance deductibles and copayments. The balance is billed to third-party payors, including insurance companies and government health care agencies. St. Joseph’s estimates that 20 percent of these third-party payor charges will be deducted by contractual adjustment. The hospital’s fiscal year ends on December 31. Required: Prepare the journal entries for December 2023. Assume 15 percent of the amounts billed to patients will be reduced through implicit price adjustments. Prepare the journal entries for 2024 assuming the following: $102,000 is collected from the patients during the year, and $9,800 of price adjustments are granted to individuals. Actual contractual adjustments total $157,000. The remaining receivable from third-party payors is collected. Note: For all requirements, if no entry is required for a transaction or event, select "No Journal Entry Required" in the first account field.   A.  Record the patient service revenues for 2023 including the insurance deductibles and copayments; and the balance billing to third-party payors. B.  Record the 20 percent third-party payor charges deductible by contractual adjustment for 2023. C.  Record the provision for implicit price adjustments for 2023. D.  Record the amount collected from the patients during the year 2024 and also the price adjustments granted to individuals. E.  Record the year end allowance for contractual adjustments for 2024. F.  Record the amount collected and actual contractual adjustments receivable from the third-party payors for 2024.