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Chapter $8$ Homework

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$2$ points

On December $31,2023,$ Extreme Fitness has adjusted balances of $$930,000$ in Accounts Receivable and $$81,000$ 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 $$23,000.$

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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Req B

Req Cl

Req C$2$

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 $3,2024?$

Net Accounts Receivable