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28.For the month of December 2017, patient charges at Northfield Hospital (a not-for-profit hospital) were $2,720,000. Third-party payors were billed $1,800,000. $520,000 of the $2,720,000 was expected to be uncollectible.

Required:.Prepare the necessary journal entry to record the anticipated uncollectible amount.

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Answer #1
Accounting Title & Explanation Debit Credit
Bad debt expense $520,000
Allowance for uncollectible & reduced accounts $520,000
(To record the anticipated uncollectible amount)
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