M8-3 (Algo) Reporting Accounts Receivable and Recording Write-Offs Using the Allowance Method [LO 82] On December 31, 2020, Extreme Fitness has adjusted balances of $810,000 in Accounts Receivable and $57,000 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 $11,000. 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. Has net accounts receivable changed from December 31,2020 ? Complete this question by entering your answers in the tabs below. What amount would the company report as its net accounts receivable on December 31,2020 ? M8-3 (Algo) Reporting Accounts Receivable and Recording Write-Offs Using the Allowance Method [LO 8-2] On December 31,2020, Extreme Fitness has adjusted balances of $810,000 in Accounts Recelvable and $57,000 in Allowance for Doubtful Accounts. On January 2, 2021, the company learns that certaln customer accounts are not collectible, so management authorlzes a write-off of these accounts totaling $11,000. Requlred: a. What amount would the company report as its net accounts recelvable 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 recelvable on January 3,2021 ? c-2. Has net accounts recelvable changed from December 31,2020 ? Complete this question by entering your answers in the tabs below. Prepare the journal entry to write off the accounts on January 2, 2021. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the $11,000 write-off of certain customer accounts which are not collectible. Note: Enter debits before credits. M8-3 (Algo) Reporting Accounts Receivable and Recording Write-Offs Using the Allowance Method [LO 8-2] On December 31, 2020, Extreme Fltness has adjusted balances of $810,000 in Accounts Recelvable and $57,000 in Allowance for Doubtful Accounts. On January 2, 2021, the company learns that certaln customer accounts are not collectible, so management authorizes a write-off of these accounts totaling $11,000. Required: a. What amount would the company report as its net accounts recelvable 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 recelvable on January 3,2021 ? c-2. Has net .

1. M8-3 (Algo) Reporting Accounts Receivable and Recording Write-Offs Using the Allowance
Method [LO 82] On December 31, 2020, Extreme Fitness has adjusted balances of $810,000 in
Accounts Receivable and $57,000 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 $11,000. 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. Has net accounts receivable changed from
December 31,2020 ? Complete this question by entering your answers in the tabs below. What
amount would the company report as its net accounts receivable on December 31,2020 ?
M8-3 (Algo) Reporting Accounts Receivable and Recording Write-Offs Using the Allowance
Method [LO 8-2] On December 31,2020, Extreme Fitness has adjusted balances of $810,000 in
Accounts Recelvable and $57,000 in Allowance for Doubtful Accounts. On January 2, 2021, the
company learns that certaln customer accounts are not collectible, so management authorlzes a
write-off of these accounts totaling $11,000. Requlred: a. What amount would the company
report as its net accounts recelvable 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 recelvable on January 3,2021 ? c-2. Has net accounts recelvable changed from
December 31,2020 ? Complete this question by entering your answers in the tabs below. Prepare
the journal entry to write off the accounts on January 2, 2021. (If no entry is required for a
transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry
worksheet Record the $11,000 write-off of certain customer accounts which are not collectible.
Note: Enter debits before credits.
M8-3 (Algo) Reporting Accounts Receivable and Recording Write-Offs Using the Allowance
Method [LO 8-2] On December 31, 2020, Extreme Fltness has adjusted balances of $810,000 in
Accounts Recelvable and $57,000 in Allowance for Doubtful Accounts. On January 2, 2021, the
company learns that certaln customer accounts are not collectible, so management authorizes a
write-off of these accounts totaling $11,000. Required: a. What amount would the company
report as its net accounts recelvable 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 recelvable on January 3,2021 ? c-2. Has net accounts recelvable changed from

2. December 31,2020 ? Complete this question by entering your answers in the tabs below.
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?
M8-3 (Algo) Reporting Accounts Receivable and Recording Write-Offs Using the Allowance
Method [LO 8-2] On December 31, 2020, Extreme Fitness has adjusted balances of $810,000 in
Accounts Recelvable and $57,000 in Allowance for Doubtful Accounts. On January 2, 2021, the
company learns that certaln customer accounts are not collectible, so management authorizes a
write-off of these accounts totaling $11,000. Requlred: a. What amount would the company
report as Its net accounts recelvable 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 recelvable on January 3,2021 ? c-2. Has net accounts recelvable changed from
December 31,2020 ? Complete this question by entering your answers in the tabs below. Has net
accounts receivable changed from December 31, 2020 ? Has net accounts receivable changed
from December 31,2020 ?