Question
Under Lennon Hospitals rate structure, it earned patient service revenue of $10.3 million for the year ended December 31, 2015. However, Lennon did not expect
Under Lennon Hospitals rate structure, it earned patient service revenue of $10.3 million for the year ended December 31, 2015. However, Lennon did not expect to collect this entire amount because it deemed $2.05 million to be charity care and estimated contractual adjustments to be $930,000. |
During 2015. Lennon purchased medical supplies from Harrison Medical Supply Company at a cost of $5,300. Harrison notified Lennon that it was donating the supplies to the hospital. |
Lennon is a private not-for-profit entity: |
a. | How much should Lennon record as patient service revenue? (Enter your answer in millions rounded to 2 decimal place.) | |||||||||||||||||||||
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