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Mercy Hospital has the following balances on December 31, 2021, before any adjustment Accounts Receivable = $55,000, Allowance for Uncollectible Accounts = $1,500 (credit). Mercy estimates uncollectible accounts based on an aging of accounts receivable as shown below. Age Group Not yet due 0-30 days past due 31-90 days past due More than 90 days past due Total Amount Receivable $35,000 9.500 6,500 4,000 $55,000 Estimated Percent Uncollectible 20% 25% 50% 90% Required: 1. Estimate the amount of uncollectible receivables. Answer is complete and correct. Estimated Amount Age Group M 1. Estimate the amount of uncollectible receivables. Answer is complete and 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 $ 7,000 2,375 3,250 3,600 $ 16,225 2. Record the adjusting entry for uncollectible accounts on December 31, 2021. (If no entry is required fo transaction/event, select "No Journal Entry Required" in the first account field.) RA 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.) No Answer is complete and correct. Date General Journal December 31, 202 Bad Debt Expense Allowance for Uncollectible Accounts Credit Debit 14,725 1 14,725 9 MP 3. Calculate net accounts receivable. Answer is complete but not entirely correct. $ Total Accounts Receivable Less: Allowance for Uncollectible Accounts 55,000 (14,725) Net Accounts Receivable $ 40,275

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