29.For the month of December 2017, patient charges at Northfield Hospital (a not-for-profit hospital) were $2,720,000. Third-party payors were billed $1,800,000.

In this month, there were several patients that had no health insurance and due to their low income level, the hospital decided that $85,000 of receivables would not be collectible.

Required: Prepare the necessary journal entry to reflect the decision to consider the $85,000 as charity care