Question: Fraud Investigators Inc operates a fraud detection service Required 1 Prepare journal

Fraud Investigators Inc. operates a fraud detection service.
1. Prepare journal entries for each transaction below.
a. On March 31, 10 customers were billed for detection services totaling $ 25,000.
b. On October 31, a customer balance of $ 1,500 from a prior year was determined to be uncollectible and was written off.
c. On December 15, a customer paid an old balance of $ 900, which had been written off in a prior year.
d. On December 31, $ 500 of bad debts were estimated and recorded for the year.
2. Complete the following table, indicating the amount and effect (+ for increase, – for decrease, and NE for no effect) of each transaction.

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  • CreatedNovember 02, 2015
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