Rete A hospital has the following balances on December 31, Year 1, before any adjustment Accounts Receivable = $66,000: Allowance for Uncollectible Accounts = $1,500 (credit). The hospital estimates uncollectible accounts based on an aging of accounts receivable as shown below. 68.00 Age Group Not yet due 0-30 days past due 31-90 days past due More than 90 days past due Total Amount Receivable $46,000 10,600 7,600 1,800 $66,000 Estimated Percent Uncollectible 204 254 504 981 Required: 1. Estimate the amount of uncollectible receivables. Answer is complete but not entirely correct. 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 $ 46,000 10,000 7,600 1.800 65.400 2. Record the adjusting entry for uncollectible accounts on December 31, Year 1. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Answer is not complete. General Journal No Date Debit Credit 57:42 1 December 31 Bad Debt Expense 46,000 3. Calculate net accounts receivable. Total Accounts Receivable Net Accounts Receivable Below are amounts (in millions) from three companies' annual reports. Beginning Ending Accounts Accounts Receivable Receivable Net Sales Walco $1,795 $2,742 $320,427 TarMart 6,066 6,594 65,878 CostGet 609 645 66,963 4:35 Required: 1. Calculate the receivables turnover ratio and the average collection period for Walco, TarMart and CostGet. (Do not round intermediate calculations.Enter your answers in millions. Round your "Average accounts receivable" and "Receivables turnover ratio" answers to one decinal place.) Receivables Turnover Ratio wint Walco Tar Mart Receivables turnover ratio times times times CostGet arences Average Collection Period Walco Tar Mart CostGet Average collection period days days days