Exercise 5-10 (Algo) Record the adjusting entry for uncollectible accounts using the aging method (LO5- 5) Providence Hospital has the following balances on December 31, 2024, before any adjustment: Accounts Receivable = $58,000; Allowance for Uncollectible Accounts = $1,500 (credit). Providence estimates uncollectible accounts based on an aging of accounts receivable as shown below. Age Group Not yet due 0 to 30 days past due 31 to 90 days past due More than 90 days past due Estimated Percent Amount Receivable Uncollectible $38,000 20% 9,800 25% 6,800 50% 3,400 90% $58,000 Total Required: 1. Estimate the amount of uncollectible receivables. 2. Record the adjusting entry for uncollectible accounts on December 31, 2024. 3. Calculate net accounts receivable reported in the balance sheet. < Prev 10 of 11 Next >