7-2 The Cash account in the ledger of Haselhof Inc. shows a balance of $48,678.22 at November 30. The bank statement, however, shows a balance of $56,274.20 at the same date. The only reconciling items consist of the followings: The following checks were outstanding at November 30 $1,635.29 2,468.30 2,125.15 482.17 1224 1230 1232 1233 Included with the November bank statement and not recorded by the company were a bank debit memo for $27.40 covering bank charges for the month, a debit memo for $372.13 for a customer's check returned and marked NSF, and a credit memo for $1400 representing bond interest collected by the bank in the name of Haselhof Inc. Cash on hand at November 30 recorded and awaiting deposit amounted to $1,915.40 Haselholf has wrongly recorded check # 1220 to purchase office equipment which cleared the bank for $1,300 as $3,100 Prepare the bank reconciliation and the adjusting entries.

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Patient billing and collection is a process where a medical charge will be imposed on the patient and the amount will be collected after considering co-pays, insurance deduction, and non-covered insurance. Billing and collection in the medical process is a vital process for the patient as well as the health organization. For a health organization, collecting medical charges is income for service provided by them to a patient. For a patient, medical billing is the expense for using the service provided by the health organization. For some patients, certain services will be covered under the insurance policy, and the remaining charges have to be paid out-of-pocket. The collection of such bills has to be clearly stated without creating a chaotic situation for patients and insurance providers. A billing statement will be easily collected for the uninsured patient as medical charges will be directly collected from them.