Providence Hospital has the following balances on December 31, 2024, before any adjustment: Accounts Receivable= $52,000;...
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Providence Hospital has the following balances on December 31, 2024, before any adjustment: Accounts Receivable= $52,000; Allowance for Uncollectible Accounts = $1,500 (credit). Providence estimates uncollectible accounts based on an aging of accounts receivable as shown below. Age Group Not yet due 0 to 30 days past due 31 to 90 days past due More than 90 days past due Total Amount Receivable $32,000 9,200 6,200 4,600 $52,000 Estimated Percent Uncollectible 20% 258 50% 90% Required: 1. Estimate the amount of uncollectible receivables. 2. Record the adjusting entry for uncollectible accounts on December 31, 2024, 3. Calculate net accounts receivable reported in the balance sheet. Providence Hospital has the following balances on December 31, 2024, before any adjustment: Accounts Receivable= $52,000; Allowance for Uncollectible Accounts = $1,500 (credit). Providence estimates uncollectible accounts based on an aging of accounts receivable as shown below. Age Group Not yet due 0 to 30 days past due 31 to 90 days past due More than 90 days past due Total Amount Receivable $32,000 9,200 6,200 4,600 $52,000 Estimated Percent Uncollectible 20% 258 50% 90% Required: 1. Estimate the amount of uncollectible receivables. 2. Record the adjusting entry for uncollectible accounts on December 31, 2024, 3. Calculate net accounts receivable reported in the balance sheet.
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