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I want the journal entry for both of the transactions. Additional information on the transaction is attached above too. On December 31, 2020, Extreme Fitness
I want the journal entry for both of the transactions. Additional information on the transaction is attached above too.
On December 31, 2020, Extreme Fitness has adjusted balances of $930,000 in Accounts Receivable and $81,000 in Allowance for Doubtful Accounts. On January 2, 2021, the company learns that certain customer accounts are not collectible, so management authorizes a write-off of these accounts totaling $23,000. Required: Assume that on February 2, 2021, Extreme Fitness received a payment of $1,800 from one of the customers whose balance had been written off. Prepare the journal entries to record this transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the reversal of a customer account previously written off in the amount of $1,800. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal Journal entry worksheet Record the receipt of cash of $1,800 from the customer. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Record entry Clear entry View general journalStep by Step Solution
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