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On December 31, 2020, Extreme Fitness has adjusted balances of $880,000 in Accounts Receivable and $71000 in Allowance for Doubtful Accounts On January 2, 2021,
On December 31, 2020, Extreme Fitness has adjusted balances of $880,000 in Accounts Receivable and $71000 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 $18.000 Required: a. What amount would the company report as its net accounts receivable on December 31, 2020? b.Prepare the journal entry to write off the accounts on January 2, 2021. c.1. Assuming no other transactions occurred between December 31, 2020, and January 3, 2021, what amount would the company report as its net accounts receivable on January 3, 2021? c-2. Hos net accounts receivable changed from December 31, 2020? Complete this question by entering your answers in the tabs below. Rega Rog Reg C Red What amount would the company report as its net accounts receivable on December 31, 20202 Net Accounts Receivable Ring RoqB > Req A ReqB Req ci Req C2 Prepare the journal entry to write off the accounts on January 2, 2021. (If no entry is required for a tr Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the $18,000 write-off of certain customer accounts which are not collectible. Note: Enter debits before credits. Date General Journal Debit Credit January 02, 2021 Complete this question by entering your answers in the tabs below. Req A Req B Req ci Req C2 Assuming no other transactions occurred between December 31, 2020, and January 3, 2021, wh- company report as its net accounts receivable on January 3, 2021? Net Accounts Receivable Complete this question by entering your answers in the tabs below. Req A Req B Req ci Req ca W Has net accounts receivable changed from December 31, 2020? Has net accounts receivable changed from December 31, 2020?
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