question fraud investigators inc operates a fraud detection service on october 31 a 4279759
Question
Fraud Investigators Inc. operates a fraud detection service.
On October 31, a customer balance of $2,000 from a prior year was determined to be uncollectible and was written off.
Required information
Prepare journal entries for each transaction above. (If no entry is required for a transaction/event, select “No Journal Entry Required” in the first account field.)
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a. |
On March 31, 10 customers were billed for detection services totaling $35,000. |
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b. |
On October 31, a customer balance of $2,000 from a prior year was determined to be uncollectible and was written off. |
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c. |
On December 15, a customer paid an old balance of $800, which had been written off in a prior year. |
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d. |
On December 31, $600 of bad debts were estimated and recorded for the year. |
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