M8-3 Reporting Accounts Receivable and Recording Write-Offs Using the Allowance Method [LO 8-2] On December 31, 2017, Extreme Fitness has adjusted balances of $950,000 in Accounts Receivable and $85,000 in Allowance for Doubtful Accounts On January 2, 2018, the company learns that certain customer accounts are not collectible, so management authorizes a write-off of these accounts totaling $25,000. a. What amount would the company report os its net accounts receivable on December 31, 2017? b. Prepare the journal entry to write off the accounts on January 2, 2018 c. Assuming no other transactions occurred between December 31, 2017, and January 3, 2018, what amount would the company report as its net accounts receivable on January 3, 2018? Has net accounts receivable changed from December 31, 2017? Complete this question by entering your answers in the tabs below. Reg A Reg B Reg C1 Reg C2 What amount would the company report as its net accounts receivable on December 31, 2017? Net Accounts Receivable Prepare the journal entry to write off the accounts on January 2, 2018. (If no entry is required for a transaction/event, select "Nc Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 Record the $25,000 write-off of certain customer accounts which are not collectible. Note: Enter debits before credits. General Journal Dobit Credit Date January 02, 2018 Record entry Clear entry View general journal M8-3 Reporting Accounts Receivable and Recording Write-Offs Using the Allowance Method (LO 8-2] On December 31, 2017, Extreme Fitness has adjusted balances of $950,000 in Accounts Receivable and $85,000 in Allowance for Doubtful Accounts. On January 2, 2018, the company learns that certain customer accounts are not collectible, so management authorizes a write-off of these accounts totaling $25,000 a. What amount would the company report as its net accounts recevable on December 31, 2017? b. Prepare the journal entry to write off the accounts on January 2, 2018. c. Assuming no other transactions occurred between December 31, 2017, and January 3, 2018, what amount would the company report as its net accounts receivable on January 3, 2018? Has net accounts receivable changed from December 31, 2017? Complete this question by entering your answers in the tabs below. Req A Reg B Reg C1 Reg C2 Assuming no other transactions occurred between December 31, 2017, and January 3, 2018, vhat amount would the company report as its net accounts receivable on January 3, 2018? Not Accounts Receivable M8-3 Reporting Accounts Receivable and Recording Write-Offs Using the Allowance Method [LO 8-2] On December 31, 2017, Extreme Fitness has adjusted balances of $950,000 in Accounts Receivable and $85,000 in Allowance for Doubtful Accounts. On January 2, 2018, the company learns that certain customer accounts are not collectible, so management authorizes a write-off of these accounts totaling $25,000. a. What amount would the company report as its net accounts receivable on December 31, 2017? b. Prepare the journal entry to write off the accounts on January 2, 2018 c. Assuming no other transactions occurred between December 31, 2017, and January 3, 2018, what amount would the company report as its net accounts receivable on January 3, 2018? Has net accounts receivable changed from December 31, 2017? Complete this question by entering your answers in the tabs below. Reg A Req B Req C1 Reg C2 Has net accounts receivable changed from December 31, 2017? Has not accounts receivable changed from December 31, 2017