Question - Jordan an auditor, is performing a routine review of a not-for-profit hospital and noted the following account balances in the statement of operations for the fiscal year ending Sept. 30, 2011:
Gross patient service revenue from all $ 4,450,000 services at the hospital's established billing rate
Bad debt expense $ 90,000
Contractual adjustments $ 420,000
Calculate the amount the hospital would report as net patient service revenue in its statement of operations for the fiscal year ending Sept. 30, 2011.