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Pie
3 years ago
5

A hospital arranges with a third-party payer to charge the third party 85 percent of its established billing rates. During Janua

ry, the hospital provided services amounting to $2.0 million at the established billing rates. Prepare journal entries to record the January billings.
Business
1 answer:
Airida [17]3 years ago
7 0

The journal entries to record the January billings of the hospital are as follows:

Debit Accounts Receivable $1,700,000

Debit Finance Charge $300,000

Credit Service Revenue $2,000,000

  • To record the services provided.

Data Analysis:

Accounts Receivable $1,700,000 ($2,000,000 x 85%) Finance Charge $300,000 Service Revenue $2,000,000

Thus, the hospital will split the billing for January into two: the <em>amount it will receive</em> and the finance charge for using the third-party payer.

Learn more: brainly.com/question/25364507

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Answer:

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Explanation:

4 0
3 years ago
A price-discriminating monopolist having identical costs in two markets should charge a higher price in that market Group of ans
Paul [167]

Complete Question:

A price-discriminating monopolist having identical costs in two markets should charge a higher price in that market:

Group of answer choices.

A. which has a higher demand.

B. which has a more elastic demand.

C. which has a less elastic demand.

D. which has a higher marginal revenue.

Answer:

C. which has a less elastic demand.

Explanation:

In competitive marketing, a price-discriminating monopolist is any individual or business entity which charges various customers different prices for its finished products or services, even though the products are similar, identical or homogeneous in nature and there cost of production is the same.

A price-discriminating monopolist having identical costs in two markets should charge a higher price in that market which has a less elastic demand because there are no close substitutes or alternatives for the goods and services.

<em>For instance, if there's a gasoline or fuel hike in a particular state, a price-discriminating monopolist would charge higher price because gasoline or fuel is inelastic in the short-run or has a less elastic demand at the time. </em>

3 0
3 years ago
True or false: better real estate decisions affect the productivity of individuals, firms, and local markets.
Mama L [17]
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3 0
2 years ago
Jeff Heun, president of Bridgeport Always, agrees to construct a concrete cart path at Dakota Golf Club. Bridgeport Always enter
Setler79 [48]

Answer:

Transaction price $241,400

Transaction price $245,720

Explanation:

Outcome Probability Contract Revenue Transaction Price

Complete on time 50% $215,000 + $32,000 = $247,000 $123,500

Complete one week late 30% $215,000 + $24,000 = $239,000 $71,700

Complete two weeks late 20% $215,000 + $16,000 = $231,000 $46,200

Transaction price $241,400

2

Outcome Probability Contract Revenue Transaction Price

Complete on time 84% $215,000 + $32,000 = $247,000 $207,480

Complete one week late 16% $215,000 + $24,000 = $239,000 $38,240

Transaction price $245,720

6 0
4 years ago
Select the correct answer
marissa [1.9K]

Explanation:

All the goods and services provided to people

6 0
3 years ago
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