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(Solved): On December 31, 2023, Extreme Fitness has adjusted balances of $890,000 in Accounts Receivable and $ ...



On December 31, 2023, Extreme Fitness has adjusted balances of $890,000 in Accounts Receivable and $73,000 in Allowance for Doubtful Accounts. On January 2, 2024, the company learns that certain customer accounts are not collectible, so management authorizes a write-off of these accounts totaling

$19,000

. Required: a. What amount would the company report as its net accounts receivable on December 31, 2023? b. Prepare the journal entry to write off the accounts on January 2, 2024. c-1. Assuming no other transactions occurred between December 31, 2023, and January 3, 2024, what amount would the company report as its net accounts receivable on January 3, 2024? c-2. Has net accounts receivable changed from December 31, 2023?



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