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Required: 1. For items (a)-(), analyze the amount and direction or-) of effects on specific financial statement accounts and the overall accounting equation. (Do not

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Required: 1. For items (a)-(), analyze the amount and direction or-) of effects on specific financial statement accounts and the overall accounting equation. (Do not round intermediate calculations. Enter any decreases to Assets, Liabilities, or Stockholders Equity with a minus sign.) a. During January, the company provided services for $300,000 on credit. b. On January 31, the company estimated bad debts using 1 percent of credit sales On February 4, the company collected $250,000 of accounts receivable d. On February 15, the company wrote off a $3,000 account receivable e. During February, the company provided services for $250,000 on credit. f On February 28, the company estimated bad debts using 1 percent of credit sales g. On March 1, the company loaned $15,000 to an employee who signed a 4% note, due in 9 months h. On March 15, the company collected $3,000 on the account written off one month earlier i. On March 31, the company accrued interest earned on the note j. On March 31, the company adjusted for uncollectible accounts, based on the following aging analysis, which includes the preceding transactions (as well as others not listed). Prior to the adjustment, Allowance for Doubtful Accounts had an unadjusted credit balance of $9,000 Number of Days Unpaid Over 90 Customer Aerosmith Biggie Small Others (not shown to save space) ZZ Top Total Accounts Receivable Estimated uncollectible (%) Total 0-30 31-60 61-90 $ 2,000 1,000 1,000 1,000 9,000 2,000 $ 1,000 9,000 99,00039,000 7,000 $110,000 $47,000 42,000 7,000 $43,000 10,000 $10,000 5% 10% 20% 40%

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