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Prepare journal entries to record particular month billings

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Reference no: EM131691498

Question: (Accounting for contractual adjustments) A hospital arranges with a third-party payer to charge the third party 75 percent of its established billing rates. During January 2012, the hospital provided services amounting to $1 million at the established billing rates. Prepare journal entries to record the January billings.

Reference no: EM131691498

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