0 8 Required information (The following information applies to the questions disolayed below Web Wizard, Inc, has provided information technology services for several years. For the first two months of the current the company has used the percentage of credit sales method to estimate bad debts. At the end of the first quarter, switched to the aging of accounts receivable method. The company entered into the following partial list of Part 1 of 2 year, the company transactions during the first quarter 10 points a During January, the company provided services for $50.000 on credt b On January 31, the company estimated bad debts using 1 percent of credit soles c On February 4, the company collected $25,000 of accounts receivable d On February 15, the company wrote off a $150 account receivable. e During February, the company provided services for $40,000 on credt f On February 28, the company estimated bad debts using 1 percent of credit sales. g On March 1, the company loaned $2,200 to an employee, who signed a 6% note, due in 6 months. h On March 15, the company collected $150 on the account written off one month earlier On March 31, the company accrued interest earned on the note. On March 31, the company adjusted for uncollectible accounts, based on an aging analysis (below). Alowance for Doubtful Accounts has an unadjusted credit balance of $1,300 References Alabana Sourias 500 s00 19.200 7,9004OD00900 1.400 082-40 Others (not shown to save space Xeiting Xoursions Total kecounts Receivable Estinsted Uncollectible () Required: 1. For items (a-(il analyze the transaction to determine effects on specific financial statement accounts and the overall accounting equation. (Enter any decreases to Assets, Liabilities, or Stockholders Equity with a minus sign. Do not round intermediate 0 Required information The following information applies to the questions displayed below. Web Wizard, Inc, has provided information technology services for several years. For the first two months of the current ompany has used the percentage of credit sales method to estimate bad debts. At the end of the first quarter sched to the aging of accounts receivable method. The company entered into the following partialist of of 2 transactions during the first quarter a. During January, the company provided services for $50,000 on credit. b. On January 31, the company estimated bad debts using 1 percent of credit sales c On February 4, the company collected $25,000 of accounts receivable. d. On February 15, the company wrote off a $150 account receivable. e. During February, the company provided services for $40,000 on credit. f On February 28, th g. On March 1, the company loaned $2.200 to an employee, who signed a 6% note, due in 6 months. ook e company estimated bad debts using 1 percent of credit sales. rint On March 15, the company collected $150 on the account written off one month earlier L On March 31, the company accrued interest earned on the note. j On March 31, the company adjusted for uncollectible accounts, based on an aging analysis (below), Allowance for Doubtful Accounts has an unadjusted credit balance of $1,300. Number of Days Unpaid Total -10 31-40 61-20 over 9 230 11 90 30 Customer Alabana Tourisn Bayside Bungalows others (not shown to save apace) Xciting Xeursions 500 500 19,200 7,800 9,400 1,100 900 390 39 20,3208,300$9,490$1,130 $1,400 Total Accounts Receivable Estimated Uncollectible ( 29 10% 20% 30s 2. Prepare the journal entries for items (o-) qf no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations)