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?

Yang corporation starts a foreign subsidiary on january 1 by investing 20,000 rand. yang owns all of the shares of the subsidiary’s common stock. the foreign subsidiary generates 40,000 rand of net income throughout the year and pays no dividends. the rand is the foreign subsidiary’s functional currency. currency exchange rates for 1 rand are as follows: lo 10-3 january $0.25 = 1 rand average for the 0.28 = 1 december 0.31 = 1 in preparing consolidated financial statements, what translation adjustment will yang report at the end of the current year? a. $400 positive (credit). b. $1,000 positive (credit). c. $1,400 positive (credit). d. $2,400 positive (credit). hoyle, joe ben; hoyle, joe ben. advanced accounting (page 513). mcgraw-hill higher education. kindle edition.