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7 A hospital has the following balances on December 31, Year 1, before any adjustment: Accounts Receivable $61,000; Allowance for Uncollectible Accounts $1,400 (credit).
7 A hospital has the following balances on December 31, Year 1, before any adjustment: Accounts Receivable $61,000; Allowance for Uncollectible Accounts $1,400 (credit). The hospital estimates uncollectible accounts based on an aging of accounts receivable as shown below. 5 points Estinated Age Group Not yet due Amount Receivables $41,000 Percent Uncollectible 15% 8-30 days past due 10,100 20% 31-90 days past due 7,100 45% Book More than 90 days past due 2,800 85% Total $61,000 H References Print Required: 1. Estimate the amount of uncollectible receivables. Age Group Not yet due 0-30 days past due 31-90 days past due More than 90 days past due Total Estimated Amount Uncollectible
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