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What amount would the company report as net accounts

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Question - On Dec. 31, 2020 redeem company had adjusted balances of $950,000 in accounts receivable and $85,000 in allowance for doubtful accounts. On January 2, 2021  Redeem co. learns that certain customer accounts are not collectible, so management authorizes a write off of these accounts totaling $25,000.

A. What amount would the company report as its net accounts receivable on Dec. 31, 2020?

B. Prepare journal entry to write off accounts on Jan 2, 2021. Record the $25,000 write off customer ACC that are not collectible.

C. Assuming no other transactions occurred between Dec. 31 and Jan. 3, 2021 what amount would the company report as Net Accounts Receivable on Jan 3, 2021?

D. Has net accounts receivable changed from Dec. 31, 2020?

Reference no: EM133152254

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