Accounts receivable management. Given the information below, compute the days in accounts receivable, aging schedule, and accounts receivable as a percentage of net patient revenues for quarter 1 and quarter 2, 20X1. Compare the two quarters to determine if the organization's collection procedure is improving. (Hint: For simplicity, assume that each month is 30 days. Dollar figures are expressed in thousands.)

Accounts receivable management. Given the information below, compute the days in accounts receivable, aging schedule, and accounts receivable as a percentage of net patient revenues for quarter 1 and quarter 2, 20X1. Compare the two quarters to determine if the organization's collection procedure is improving. (Hint: For simplicity, assume that each month is 30 days. Dollar figures are expressed in thousands.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The days' sales uncollected ratio is used to: Measure how many days of sales remain until the end of the year. Determine the number of days that have passed without collecting on accounts receivable. Identify the likelihood of collecting sales on account. D. Estimate how much time is likely to pass before the amount of accounts receivable is collected.
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