Chapter 8 Homework Help S 0 Required information The following information applies to the questions displayed below. Execusmart Consultants percentage of credit sales method to estimate bad debts but switched at the end of the of accounts receivable method. The company entered into the following partial list of transactions. Part 3 of 4 has provided business consulting services for several years. The company has been using the first quarter this year to the aging 12.5 points a During January, the company provided services for $360,000 on credit. b. On January 31, the company estimated bad debts using 1 percent of credit sales. eBook On February 4, the company collected $180,000 of accounts receivable. d. On February 15, the company wrote off a $500 account receivable. e. During February, the company provided services for $310,000 on credit. f On February 28, the company estimated bad debts using 1 percent of credit sales. g On March 1, the company loaned $17,000 to an employee, who signed a 12% note due in 3 months. h. On March 15, the company collected $500 on the account written off one month earlier L On March 31, the company accrued interest earned on the note. On March 31, the company adjusted for uncollectible accounts, based on the following aging analysis, which includes Print the preceding transactions (as well as others not listed). Prior to the adjustment, Allowance for Doubtful Accounts had an unadjusted credit balance of $9,200. Total 2,200900800 500 0-30 Arrow Ergonomies Asymmetry Architecture Others (not shown to save space) Weight Whittlers 3, 600 $3, 600 108,700 41,50055,000 6,600 5,600 :11: 3,600 3,600 Total Accounts Receivable Estinated Uncollectible () $118,100 $46,000 $55,800 $7,100 $9,200 10t 208 Chapter 8 Homework Help S 6 Total Arrow Ergonomics Asymmetry Architecture Others (niot shown to save space) Weight Whittlers 5 2,200 900 800 500 $3,600 108,700 41,500 55,000 6,600 5,600 3,600 .600 3,600 Part 3 of 4 Total Accounts Receivable Estimated uncollectible (%) $118,100 $46,000 $55,800$7,100 $9,200 3% 108 201 408 12.5 points 3. Show how Accounts Receivable, Notes Receivable, and their related accounts would be reported in the current assets section of a classified balance sheet at the end of the quarter on March 31 eBook Print SMART CONSULTANTS Balanco Sheet (Partial) At March 31 Assets Current Assets Accounts Receivable, NsPof Allowance