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Mercy Hospital has the following balances on December 31, 2018, before any adjustment Accounts Receivable = $66,000, Allowance for Uncollectible Accounts = $1,500 (credith. Merey
Mercy Hospital has the following balances on December 31, 2018, before any adjustment Accounts Receivable = $66,000, Allowance for Uncollectible Accounts = $1,500 (credith. Merey estimates uncollectible accounts based on an aging of accounts receivable as shown below. Estimated Amount Percent Age Group Receivable Uncollectible Not yet due $ 46.000 10% 0 - 30 days past due 10.600 20% 31 - 90 days past due 7,600 50% More than 90 days past due 1.800 90% Total $ 66,000 ces Required: 1. Estimate the amount of uncollectible receivables. Age Group Estimated Amount Uncollectible Not yet due 0-30 days past due 31-00 days past due More than 90 days past due Total 5 More than 90 days past due Total $ 2. Record the adjustment for uncollectible accounts on December 31, 2018. (If no entry is required for Journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 Record the adjustment entry for Uncollectible Accounts. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2018 Record entry Clear entry View general Journal 3. Calculate the net realizable value of accounts receivable. Total accounts receivable Net realizable value
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