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3 Mercy Hospital has the following balances on December 31, 2021, before any adjustment Accounts Receivable $67,000. Allowance for Uncollectible Accounts $1,400 (cedit). Mercy estimates
3 Mercy Hospital has the following balances on December 31, 2021, before any adjustment Accounts Receivable $67,000. Allowance for Uncollectible Accounts $1,400 (cedit). Mercy estimates uncollectible accounts based on an aging of accounts receivable as shown below inted Asunt cent Age Group Receivable Uncallustible Not yet du $47,000 153 0-30 days past du 10.700 200 31-90 days past de 7.700 454 More than 90 days past due 655 Total 662,000 1. CO Required: 1. Estimate the amount of uncollectible receivables, Answer is complete and correct. Estimated Age Group Amount Uncollectible Not yet doo $ 7,050 0-30 days past due 2,140 31-50 days past due 3.465 More than 90 days past due 1,300 12 2. Record the adjusting entry for uncollectible accounts on December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) No Credit Answer is complete but not entirely correct. Date General Journal Debit December 31, 202 Bad Debt Expense 6,965 Allowance for Uncollectible Accounts 1 6,965 3. Calculate net accounts receivable. Answer is complete but not entirely correct. $ Total Accounts Receivable Add: Allowance for Uncollectible Accounts 67,000 1,400 X X Net Accounts Receivable $ 68,400
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