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Mercy Hospital has the following balances on December 31, 2021, before any adjustment Accounts Receivable - $70,000: Allowance for Uncollectible Accounts = $1400 (credit Mercy
Mercy Hospital has the following balances on December 31, 2021, before any adjustment Accounts Receivable - $70,000: Allowance for Uncollectible Accounts = $1400 (credit Mercy estimates uncollectible accounts based on an aging of accounts receivable as shown below Estimated Percent Uncollectible 159 e Group Bot yet de 0 - 30 days part de 31-90 days past de More than 90 des part de Total Anot Receivable $50.000 11.000 8.000 1.000 $ 70.000 205 45% Required: 1. Estimate the amount of uncollectible receivables Age Group Not yet de 10-30 days pastor 31-50 days past du More than 90 days past due Total Estimated Amount Uncollectible 5 1 500 2.200 3,600 850 5 8.150 2. Record the adjusting entry for uncollectible accounts on December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet No Date General Journal 1 December 31 Bad Debt Expense 2021 Allowance for Uncollectible Accounts Debit Credit
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