Question: Required information E8-9 (Static) Recording and Determining the Effects of Write-Offs, Recoveries, and Bad Debt Expense Estimates on the Balance Sheet and Income Statement [LO
Required information E8-9 (Static) Recording and Determining the Effects of Write-Offs, Recoveries, and Bad Debt Expense Estimates on the Balance Sheet and Income Statement [LO 8-2] [The following information applies to the questions displayed below] Fraud Investigators incorporated operates a fraud detection service. 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. E8-9 (Static) Part 2 2. Complete the following table, indicating the amount and effect (+ for increase, - for decrease, and NE for no etfect) of each transaction. Ignore income taxes
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