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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) Complete table,
indicating the amount and effect (+ for increase, for decrease, and NE for no effect) of each
transaction. Ignore income taxes.

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Fraud Investigators Incorporated operates a fraud detection service..pdf

  • 1. 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) Complete table, indicating the amount and effect (+ for increase, for decrease, and NE for no effect) of each transaction. Ignore income taxes.