A health system has forecast net patient revenue in the first 3 months of the year as
Fantastic news! We've Found the answer you've been seeking!
Question:
A health system has forecast net patient revenue in the first 3 months of the year as follows (figures in millions: January, $200. February, $140 March, $200. 70% of services are usually paid for in the month that they take place, 20% in the following month, and the final 10% in the next month. Receivables at the end of December were $100 million. What is the forecast for outstanding receivables at the end of March?
Related Book For
Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9780134486840
6th Edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
Posted Date: