Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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).

image text in transcribedimage text in transcribedimage text in transcribed

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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Core Concepts of Accounting Information Systems

Authors: Mark G. Simkin, Jacob M. Rose, Carolyn S. Norman

12th edition

1118022300, 978-1118022306

More Books

Students also viewed these Accounting questions

Question

1. Pupils can be trusted to work together without supervision.

Answered: 1 week ago

Question

Describe the four levers of control and why they are necessary

Answered: 1 week ago