Mercy Hospital has the following balances on December 31, 2021, before any adjustment: Accounts Receivable...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Mercy Hospital has the following balances on December 31, 2021, before any adjustment: Accounts Receivable = $58,000; Allowance for Uncollectible Accounts = $1,500 (credit). Mercy estimates uncollectible accounts based on an aging of accounts receivable as shown below.
| Age Group | Amount Receivable | Estimated Percent Uncollectible | ||||||||
| Not yet due | $ | 38,000 | 20 | % | ||||||
| 030 days past due | 9,800 | 25 | % | |||||||
| 3190 days past due | 6,800 | 50 | % | |||||||
| More than 90 days past due | 3,400 | 90 | % | |||||||
| Total | $ | 58,000 | ||||||||
Required:
1. Estimate the amount of uncollectible receivables.
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.