Record the Following Transactions on the Books of St

question 18

Essay

Record the following transactions on the books of St. Marie's Hospital, a private not-for-profit hospital.
a) The Hospital billed patients $612,000 for services rendered. Of this amount, 5% is expected to be uncollectible. Contractual adjustments with insurance companies are expected to total $87,000.
b) The Hospital received $750,000 in pledges of support in a campaign undertaken to purchase new MRI equipment. All of the pledges are payable within one year and 8% are expected to be uncollectible.
c) Charity care in the amount of $36,000 at standard charges) was performed on an indigent patient.
d) The Hospital collected $487,200 for the services performed in 1) above. Actual contractual adjustments for these services amounted to $89,700. $ 13,700 of receivables were identified as uncollectible and written off.

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Definitions:

Team-Maintenance Role

A role within a group focused on maintaining positive relationships and team cohesion.

Verbal Support

The act of expressing encouragement, agreement, or backing through spoken words.

Nonverbal Support

The use of body language, facial expressions, gestures, and other nonverbal cues to reinforce or complement verbal communication.

Proactive Behavior

Taking initiative in anticipating and preventing potential problems or seizing opportunities before they occur.