Fraud Investigators Inc. operates a fraud detection service.
On March 31, 10 customers were billed for detection services totaling $17,000.
On October 31, a customer balance of $1,100 from a prior year was determined to be uncollectible and was written off.
On December 15, a customer paid an old balance of $720, which had been written off in a prior year.
On December 31, $420 of bad debts were estimated and recorded for the year.
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.)

Fraud Investigators Inc.

Date              Particulars                   Debit                  Credit

31 Mar       Accounts Receivable     $ 17,000

                                  Service Revenue                  $ 17000

On March 31, 10 customers were billed for detection services totaling $17,000

31 October  Bad Debts             $1100 Dr.

                      Allowance for Doubtful Debts              $ 1100 Cr

When  Allowance for Doubtful Debts is created .      

At the year end this adjusting entry would be passed . This is an adjusting entry and is not passed on 31st October. It is recorded on the year end.

               Allowance for Doubtful Debts              $ 1100 Dr.

                  Accounts Receivable                     $ 1100 Cr

Dec 15     Allowance for Doubtful Debts              $ 720 Dr

                           Bad Debts                          $ 720 Cr

Recovery Of Bad Debts

Dec 31   Bad debts          $ 420 Dr

               Allowance for Doubtful Debts $ 420 Cr

On December 31, $420 of bad debts were estimated and recorded for the year

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.

i would say their habit of breaking down.