2.99 See Answer

Question: A private not-for-profit health care


A private not-for-profit health care entity charges patients $4 million that will be covered by various government programs. These programs are entitled to $1.9 million in explicit price concessions.
The health care entity believes it has a 60 percent chance of receiving the net amount but a 40 percent chance of receiving $200,000 less after government adjustments. What are the two possible journal entries that the health care entity can report?

2.99

See Answer