On December 31, 2020, Extreme Fitness has adjusted balances of $800,000 Accounts Receivable and $55,000...
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Accounting
On December 31, 2020, Extreme Fitness has adjusted balances of $800,000 Accounts Receivable and $55,000 in Allowance for Doubtful AccountsOn January 2, 2021, the company learns that certain customer accounts are not collectible , so management authorizes a write-off of these accounts totaling $10,000 Required: Assume that on February 22021, Extreme Fitness received a payment of $500 from one of the customers whose balance had been written off. Prepare the journal entries to record this transaction(If no ent
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