Question

Mercy Hospital has the following balances on December 31, 2021, before any adjustment Accounts Receivable = $70,000, Allowance for Uncollectible Accounts - $1,400 (credin 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 adjusting entry for uncollectible accounts on December 31, 2021. (if no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.)

3. Calculate net accounts receivable. 

Answer 1