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Exercise 5-10A Record the adjusting entry for uncollectible accounts using the aging method (LO5-5) Mercy Hospital has the following balances on December 31, 2021,
Exercise 5-10A Record the adjusting entry for uncollectible accounts using the aging method (LO5-5) Mercy Hospital has the following balances on December 31, 2021, before any adjustment Accounts Receivable $62,000, Allowance for Uncollectible Accounts = $1,300 (credit). Mercy estimates uncollectible accounts based on an aging of accounts receivable as shown below. Age Group Not yet due 0-30 days past due 31-90 days past due More than 90 days past due Total Estimated Amount Receivable Percent Uncollectible $42,000 20% 10,200 25% 7,200 40% 2,600 SON $62,000 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 S
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