On december 31, 2017, extreme fitness has adjusted balances of $870,000 in accounts receivable and $69,000 in allowance for doubtful accounts. on january 2, 2018, the company learns that certain customer accounts are not collectible, so management authorizes a write-off of these accounts totaling $17,000. what amount would the company report as its net accounts receivable on december 31, 2017? prepare the journal entry to write off the accounts on january 2, 2018. assuming no other transactions occurred between december 31, 2017, and january 3, 2018, what amount would the company report as its net accounts receivable on january 3, 2018? has net accounts receivable changed from december 31, 2017?

Steele bicycle manufacturing company currently produces the handlebars used in manufacturing its bicycles, which are high-quality racing bikes with limited sales. steele produces and sells only 10,000 bikes each year. due to the low volume of activity, steele is unable to obtain the economies of scale that larger producers achieve. for example, steele could buy the handlebars for $31 each: they cost $34 each to make. the following is a detailed breakdown of current production costs: after seeing these figures, steele's president remarked that it would be foolish for the company to continue to produce the handlebars at $34 each when it can buy them for $31 each. calculate the total relevant cost. do you agree with the president's conclusion?

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Capital financial corporation will lend 90 percent against account balances that have averaged 30 days or less; 80 percent for account balances between 31 and 40 days; and 70 percent for account balances between 41 and 45 days. customers that take over 45 days to pay their bills are not considered acceptable accounts for a loan. the current prime rate is 16.50 percent, and capital charges 3.50 percent over prime to charming as its annual loan rate. a. determine the maximum loan for which charming paper company could qualify.