Use the following information for questions 29 through 32 Me…
Use the following information for questions 29 through 32 Metropolitan Hospital signed a one-year contract with Sunshine Insurance Company. Under the terms of the contract, Metropolitan Hospital will receive $80 per member per month (PMPM) from Sunshine for 100,000 people covered by Sunshine’s health insurance products. In exchange for the payment, Metropolitan agrees to provide hospital inpatient and outpatient services to any assigned life who presents to Metropolitan. In the month of July, the following events occurred: On July 1, Metropolitan received its capitation payment for the month of July. During July, Metropolitan provided services to patients covered by its contract with Sunshine. The billed charges totaled $15,000,000 and are automatically posted to Metropolitan’s general ledger. What revenue does Metropolitan record in its financial statements in July?
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