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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 = $1,400 (credih. Mercy
Mercy Hospital has the following balances on December 31, 2021, before any adjustment: Accounts Receivable = $70,000: Allowance for Uncollectible Accounts = $1,400 (credih. Mercy estimates uncollectible accounts based on an aging of accounts receivable as shown below. Total Receivables by Aging 0-30 days past de 31.90 days past due Not yet due More than 90 days past due Estimated Percentage Uncollectible by Aging Cotne More than 90 days past due 31 - 90 days past due 0-30 days past due Not yet due 10% Estimated % 0% 20% 30% 40% 50% 60% 70% 80% Required: 1. Estimate the amount of uncollectible receivables. Age Group Estimated Amount Uncollectible Not yet due 0-30 days past due 31-90 days past due More than 90 days past due Total 2. Record the adjusting entry for uncollectible accounts on December 31, 2021. (If no entry is required for a partic transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet View transaction list Journal entry worksheet
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