At the beginning of 20X1, N8p Hospital reported Accounts Receivable $10000 and Allowance for Uncollectible Accounts $1800 (credit). During 20X1, before recording the year-end adjusting entries, the Hospital recorded credit sales revenue $16000 and wrote off accounts receivable $200. The following balance was reported on December 31, 20X1, before any adjustment: Accounts Receivable = $13000. The Hospital estimates uncollectible accounts based on an aging of accounts receivable as shown below. Age Group Not yet due 0-30 days past due More than 30 days past due Total $ O $10700 O $8200 O $10900 O $13000 Amount Receivable $ Required: Please choose the best answer to the following questions based on the above information. On December 31, 20X1, what is the amount of accounts receivable that the Hospital expects to collect from customers? Estimated Percent Uncollectible 8,000 10% 4,000 20% 1,000 50% 13,000 What is the amount of bad debt expense that the Hospital recorded in its December 31, 20X1, adjustment to the allowance account? O $1900 O $300 O $500 $2100

At the beginning of 20X1, N8p Hospital reported Accounts Receivable $10000 and Allowance for Uncollectible Accounts $1800 (credit). During 20X1, before recording the year-end adjusting entries, the Hospital recorded credit sales revenue $16000 and wrote off accounts receivable $200. The following balance was reported on December 31, 20X1, before any adjustment: Accounts Receivable = $13000. The Hospital estimates uncollectible accounts based on an aging of accounts receivable as shown below. Age Group Not yet due 0-30 days past due More than 30 days past due Total $ O $10700 O $8200 O $10900 O $13000 Amount Receivable $ Required: Please choose the best answer to the following questions based on the above information. On December 31, 20X1, what is the amount of accounts receivable that the Hospital expects to collect from customers? Estimated Percent Uncollectible 8,000 10% 4,000 20% 1,000 50% 13,000 What is the amount of bad debt expense that the Hospital recorded in its December 31, 20X1, adjustment to the allowance account? O $1900 O $300 O $500 $2100

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 4QY: What is the journal entry to record an NSF check, from J. Smith for 250, that is returned with the...

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