4. The Aging Schedule is recorded as a percentage. Do not calcu late a figure for the quarterly block - you are calculating each month as a part of that quarterly total. Note that the sum of the months percentages should equal 100% Week 4 Practical Exercise Part One - Accounts Receivable Management Sept July Time-> | Quarter Days Outstanding ! Totals Aug 1-30 Days 31-60 Days 61-90 Days The Accounts Receivable as a Percent of Net Patient Revenues s also reported as a percentage. Note that although there is some lation between the quarterly percentage and the monthly num- ers, it is not as concrete as the other relationships that have been Formulas Net Accts Receivable GIVEN Net PatientGIVEN 20,000 5,000 3,000 12,000 26,000 12,000 5,000 9,000 Revenue Average Net Pt Rev Number of Daily Pt Rev Days in the Period Accti Average Daily Pt Days in Acct Receivable Month's Net Aeets Rac / Nat Acct Roc Quarterly Total Aging N/A Schedule Acct Rec as a%0f Net Net Accts Rec. Net Pt Rev Notes: You exercise varies from the one in the text book in that we are only using one quarter's data, and we are not making the comparison the text requires 1. Note that the quarterly total is equal to the sum of the 3 sepa- rate months in the quarter 2. The Average Daily Pt Rev was not given as a part of the prob- lem-However, it must be calculated before you can calculate Days in Accts Receivable. This is calculated by dividing the Net Pt Rev by the number of days in the period (for simplicity, we consider that each month has 30 days, and the quarter to have 90 days). Note that if you add the 3 monthly figures and divide by 3, ou will get the quarterly figure When you calculate the quarterly and monthly Days in Accts Receivable, note that the monthly numbers will add up to the