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S Ascension Hospital has the following balances on December 31, 2024, before any adjustment Accounts Receivable = $67,000, Allowance for Uncollectible Accounts $1,400 (credit).
S Ascension Hospital has the following balances on December 31, 2024, before any adjustment Accounts Receivable = $67,000, Allowance for Uncollectible Accounts $1,400 (credit). Ascension estimates uncollectible accounts based on an aging of accounts receivable as shown below. Estimated Percent Amount Receivable Uncollectible Age Group Not yet due 0 to 30 days past due 31 to 90 days past due More than 90 days past due $47,000 15% 10,700 20% 7,700 45% 1,600 85% $67,000 Total Required: 1. Estimate the amount of uncollectible receivables. 2. Record the adjusting entry for uncollectible accounts on December 31, 2024. 3. Calculate net accounts receivable reported in the balance sheet. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3
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