McGonagall Healthcare's general ledger contains the following unadjusted account balances, among others, for December 31, 20X4: out of (max): Account Accounts receivable Allowance for uncollectible accounts Land Unadjusted Balance $265.000 $0 $60,000 $3, 154,000 ? To be solved below $997,500 ? To be solved below $0 $0 $0 $0 Buildings Accumulated Depreciation - Buildings Accumulated Depreciation - Equipment Contractual adjustments Charity care adjustments Depreciation expense Bad Debt expense Equipment The following information is available: 1. Of the December 31, 20X4, accounts receivable, it is estimated that 30% will prove to be uncollectible due to the following: a. Contractual adjustments, 18.5% b. Charity Care adjustments 6.8% c. Bad debt expense 4.7% 2. The hospital building was acquired on January 1, 20X0. It has an estimated useful life of 31 years and an estimated salvage value of $684,000 Building Value Salvage Value Useful Life Current (Unadjusted as of Dec 31, 20x4) Accumulated Depreciation Annual Depreciation 3. On January 1, 20X0 McGonagall Healthcare acquired $794,000 of equipment having an estimated useful life of 8 years and an estimated salvage value of 14 percent. Additional Eqpmt Acquired 1/1/20x0 Equipment Value Salvage Value Useful Life Current (Unadjusted as of Dec 31, 20x4) Accumulated Depreciation Annual Depreciation Egomt Acquired 5/1/20X4 Equipment Value Salvage Value Useful Life Current (Unadjusted as of Dec 31, 20X4) Accumulated Depreciation Annual Depreciation Note: McGonagall has more than just these two equipment assets on its balance sheet. The total is listed at the top. Required: (1) prepare, in general journal form, the necessary adjusting entries at December 31, 20X4. (2) Indicate the manner in which receivables should be presented in the hospital's December 31, 20X4 balance sheet. (3) Indicate the presentation of plant assets in the hospital's December 31, 20X4, Balance sheet. Note: McGonagal has more than just these two equipment assets on its balance sheet. The total is listed at the top. Required: (1) prepare, in general journal form, the necessary adjusting entries at December 31, 20X4. (2) Indicate the manner in which receivables should be presented in the hospital's December 31, 20X4 balance sheet. (3) Indicate the presentation of plant assets in the hospital's December 31, 20X4, Balance sheet. Description Description Dri Date 1a) Cr: 1b) 10) 1d) te) Note: We have not added total lines for #3 to avoid creating confusion since there are multiple components in the answer. McGonagall Healthcare's general ledger contains the following unadjusted account balances, among others, for December 31, 20X4: out of (max): Account Accounts receivable Allowance for uncollectible accounts Land Unadjusted Balance $265.000 $0 $60,000 $3, 154,000 ? To be solved below $997,500 ? To be solved below $0 $0 $0 $0 Buildings Accumulated Depreciation - Buildings Accumulated Depreciation - Equipment Contractual adjustments Charity care adjustments Depreciation expense Bad Debt expense Equipment The following information is available: 1. Of the December 31, 20X4, accounts receivable, it is estimated that 30% will prove to be uncollectible due to the following: a. Contractual adjustments, 18.5% b. Charity Care adjustments 6.8% c. Bad debt expense 4.7% 2. The hospital building was acquired on January 1, 20X0. It has an estimated useful life of 31 years and an estimated salvage value of $684,000 Building Value Salvage Value Useful Life Current (Unadjusted as of Dec 31, 20x4) Accumulated Depreciation Annual Depreciation 3. On January 1, 20X0 McGonagall Healthcare acquired $794,000 of equipment having an estimated useful life of 8 years and an estimated salvage value of 14 percent. Additional Eqpmt Acquired 1/1/20x0 Equipment Value Salvage Value Useful Life Current (Unadjusted as of Dec 31, 20x4) Accumulated Depreciation Annual Depreciation Egomt Acquired 5/1/20X4 Equipment Value Salvage Value Useful Life Current (Unadjusted as of Dec 31, 20X4) Accumulated Depreciation Annual Depreciation Note: McGonagall has more than just these two equipment assets on its balance sheet. The total is listed at the top. Required: (1) prepare, in general journal form, the necessary adjusting entries at December 31, 20X4. (2) Indicate the manner in which receivables should be presented in the hospital's December 31, 20X4 balance sheet. (3) Indicate the presentation of plant assets in the hospital's December 31, 20X4, Balance sheet. Note: McGonagal has more than just these two equipment assets on its balance sheet. The total is listed at the top. Required: (1) prepare, in general journal form, the necessary adjusting entries at December 31, 20X4. (2) Indicate the manner in which receivables should be presented in the hospital's December 31, 20X4 balance sheet. (3) Indicate the presentation of plant assets in the hospital's December 31, 20X4, Balance sheet. Description Description Dri Date 1a) Cr: 1b) 10) 1d) te) Note: We have not added total lines for #3 to avoid creating confusion since there are multiple components in the