Need to show how accounts recievable and their related accounts would be reported in the current asset sections of a classified balance sheet and the end the quarter on March 31.
classified balance sheet at the end of the quarter on Match ai 100 not round intermedifte coleculators.) [The following information applies to the questions displayed below] Web Wizard, Incorporated, has provided information technology services for several years. For the first two months of the currentyear, the company has used the percentage of credit sales method to estimate bad debts. At the end of the first quarter, the company swiched to the aging of accounts receivable method. The company entered into the following partiarlist of transactions duting the first quarter. a Duting January, the company provided semices for $30,000 on credit b. On January 31 the company estimated bad debts using 1 percent of crecit sales c. On February 4 , the company colected $15000 of accounts recelvable d. On February 15 , the compony wrote off $200 account recelivable e. During Februaty the compary provided services for $20,000 on crecit. ton Fetruary 28 , the company estimated bad debts using 1 percent of crecit sales. h On Ma ch 15 , the combany collected $200 on the actount witten off one month warle: 1 On March 31 , the company accrued interest earnecfon tha hiote on unachusted efect ba price of $1100. 3. Show how Accounts Recelvable, 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 . (Do not round intermediote colculotions.) classified balance sheet at the end of the quarter on Match ai 100 not round intermedifte coleculators.) [The following information applies to the questions displayed below] Web Wizard, Incorporated, has provided information technology services for several years. For the first two months of the currentyear, the company has used the percentage of credit sales method to estimate bad debts. At the end of the first quarter, the company swiched to the aging of accounts receivable method. The company entered into the following partiarlist of transactions duting the first quarter. a Duting January, the company provided semices for $30,000 on credit b. On January 31 the company estimated bad debts using 1 percent of crecit sales c. On February 4 , the company colected $15000 of accounts recelvable d. On February 15 , the compony wrote off $200 account recelivable e. During Februaty the compary provided services for $20,000 on crecit. ton Fetruary 28 , the company estimated bad debts using 1 percent of crecit sales. h On Ma ch 15 , the combany collected $200 on the actount witten off one month warle: 1 On March 31 , the company accrued interest earnecfon tha hiote on unachusted efect ba price of $1100. 3. Show how Accounts Recelvable, 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 . (Do not round intermediote colculotions.)
