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Mercy Hospital has the following balances on December 31, 2021, before any adjustment: Accounts Receivable = $50,000; Allowance for Uncollectible Accounts $1,300 (credit). Mercy
Mercy Hospital has the following balances on December 31, 2021, before any adjustment: Accounts Receivable = $50,000; Allowance for Uncollectible Accounts $1,300 (credit). Mercy estimates uncollectible accounts based on an aging of accounts receivable as shown below. Age Group Amount Receivable Estimated Percent Uncollectible Not yet due $30,000 20% 8-30 days past due 9,000 25% 31-90 days past due 6,000 40% More than 90 days past due 5,000 80% Total $50,000 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
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