Priti Maan is operating a paralegal practice. On Oct 1, she received $1,500 from client 2 as a retainer on a criminal matter. On Oct 5, she received $750 as payment from client 1 for invoice 3. On Oct 11, client 2s criminal charges were withdrawn but client 2 also has a POA matter which Priti will assist with.

To which account will Priti deposit the retainer she received from client 2?

Personal account

General account

Mixed trust account

Investment account

To which account will Priti deposit the payment from client 1?

Personal account

General account

Mixed trust account

None of the above

How much did Priti have in trust for client 1 on Oct 5?

$0

$750

$1,000

$1,500

If Priti wishes to transfer the balance in trust for client 2 from the criminal matter to the POA matter what does she need to do first?

To prepare all journals and ledgers

To prepare an invoice to the client

To obtain written instructions from the client

To prepare a reporting letter to the client