East Georgia Community Hospital enters into a contract to provide $15,000 of elective medical care...
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Accounting
East Georgia Community Hospital enters into a contract to provide $15,000 of elective medical care to a patient. After a review of the patients ability and intent to pay, the hospital does not expect to collect the full contract price of $15,000. However, the hospital occasionally performs "discounted" procedures to members of the community to enhance its standing in the local area. While the hospital invoiced the customer for the full amount of the services, it only expects to collect $10,000. What amount of revenue should the hospital recognize?
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