Mercy Hospital has the following balances on December 31, 2015, before any adjustments: accounts receivable = $104,000;

Question:

Mercy Hospital has the following balances on December 31, 2015, before any adjustments: accounts receivable = $104,000; allowance for uncollectible accounts = $3,600 (credit). Mercy estimates uncollectible accounts based on an aging of accounts receivable as shown below.

Required:
1. Estimate the amount of uncollectible receivables.
2. Record the adjustment for uncollectible accounts on December 31, 2015.
3. Calculate the net realizable value of accountsreceivable.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...