Fraud Investigators Incorporated operates a fraud detection service.
On March 31, 10 customers were billed for detection services totaling $25,000.
On October 31, a customer balance of $1,500 from a prior year was determined to be uncollectible and was written off.
On December 15, a customer paid an old balance of $900, which had been written off in a prior year.
On December 31, $500 of bad debts were estimated and recorded for the year.
E8-9 (Static) Part 1
Required:
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.)