Fraud Inc. operates a fraud a. On March 31, 10 customers were biled for detectio

Question

Fraud Inc. operates a fraud a. On March 31, 10 customers were biled for detection services totaling $15,000 b. On October 31, a customer belance of $1,000 from a prior yesr was determined to be uncollectible and was written off. c. On 15, a customer pa d an old of $700, which had been written off in a pelor yes d. On December 31, $400 of bad debts were estmated and recorded for the year 3 8.00 points 1. Prepare jounal entries for each transaction above. (If no entry is required for nt, select "No Journal Entry Required" in the first account field) Journal entry worksheet Record the service revenue of $15,000 biled on account. ournal

Explanation / Answer

31-Mar Accounts receivable 15000               Service revenue 15000 31-Oct Allowance for doubtful accounts 1000              Accounts receivable 1000 15-Dec Accounts receivable 700                Allowance for doubtful accounts 700 15-Dec Cash 700            Accounts receivable 700 31-Dec Bad debt expense 400             Allowance for doubtful accounts 400

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