Question: Millbridge Hospital receives earned income from several sources Medicare Medicaid
Millbridge Hospital receives earned income from several sources: Medicare, Medicaid, private insurance and self-pay customers. The federal government owes the hospital $ 7 million, 60 percent is current, 30 percent is between 31 and 60 days old, and the remaining 10 percent is between 61 and 90 days old. The state owes the hospital $ 5 million for Medicaid, 40 percent of which is current, 30 percent is between 31 and 60 days old, 20 percent is between 61 and 90 days old, and the remainder is more than 91 days old. Private insurance owes the hospital $ 4 million, half of which is current, 25 percent is between 31 and 60 days old, and the remaining 25 percent is more than 91 days old. Self-pay customers owe $ 1 million, 30 percent is current, 40 percent is 31 to 60 days old, 10 percent is 61 to 90 days old, and the remainder is more than 91 days old. Prepare an accounts-receivable aging schedule by total dollars and by percent.
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