Articulation of financial statements. ulate the missing amount for each of the following situations. $8,000 Revenues for 2028 %241,000 %243,000 $5,000 24 Dividends declared in 2028 Expenses for 2028 January 1 retained earnings balance December 31 retained earnings balance Revenues for 2028 $3,000

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Patient billing and collection

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.