Record the following transactions on the books of St. Thomas Hospital, a private not-for-profit hospital.(a) The Hospital billed patients $150,000 for services rendered. Of this amount, 2.5% is expected to be uncollectible. Contractual adjustments with insurance companies are expected to total $29,000.(b) The Hospital received $240,000 in pledges of support in a campaign undertaken to purchase new MMR equipment. All of the pledges are payable within one year and 8% are expected to be uncollectible.(c) Charity care in the amount of $14,000 (at standard charges) was performed on an indigent patient.(d) The Hospital collected $111,400 for the services performed in (1) above. Actual contractual adjustments for these services amounted to $31,600. The remaining receivables were written off as uncollectible.
The reference papers provided by Writerbay.net serve as model papers for students and are not to be submitted as it is. These papers are intended to be used for research and reference purposes only.
Phone: +1 (940) 905 5542