Question

Mercy Hospital has the following balances on December 31, 2015, before any adjustment: Accounts Receivable = $70,000; Allowance for Uncollectible Accounts = $1,400 (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 accounts receivable.


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  • CreatedJuly 15, 2014
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