G) O ezto.mheducation.com/hm.tpx The following information applies to the questi

Question

G) O ezto.mheducation.com/hm.tpx The following information applies to the questions displayed below/ Fraud Investigators Inc. operates a freud 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 value 12.50 ponts Required: 1. 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.) Journal entry worksheet Record the service revenue of $25,000 billed on account

Explanation / Answer

Journal entries: Date Accounts title and explanations Debit $ Credit $ 31-Mar Accounts receivable Account Dr. 25000      Detection service revenue 25000 31-Oct Allowance fr uncollectible Accounts Dr. 1500     Accounts receivable 1500 15-Dec Accounts receivable Account Dr. 900     Allowance for uncollectible Account 900 Cash account Dr.. 900      Accounts receivable Account 900 31-Dec Bad debts expense Account Dr. 1100    Allowance for uncollectible Account (1500+500-900) 1100

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