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QUESTION 112 Your hospital has billed charges of $6,000,000 in February. If your collection experience...

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Accounting

QUESTION 112

Your hospital has billed charges of $6,000,000 in February. If your collection experience indicates that 20 percent is paid in the month billed, 40 percent in the second month, 20 percent in the third month, and 5 percent in the fourth month, determine the following values:

  1. Net patient revenue for February
  2. Collections of February charges in February
  3. Net accounts receivable at the end of March for February billings

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