! Required information [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 current year, the company has used the percentage of credit sales method to estimate bad debts. At the end of the first quarter, the company switched to the aging of accounts receivable method. The company entered into the following partial list of transactions during the first quarter. a. During January, the company provided services for $35,000 on credit. b. On January 31, the company estimated bad debts using 2 percent of credit sales. c. On February 4, the company collected $17,500 of accounts receivable. d. On February 15, the company wrote off $100 account receivable. e. During February, the company provided services for $25,000 on credit. f. On February 28, the company estimated bad debts using 2 percent of credit sales. g. On March 1, the company loaned $3,000 to an employee, who signed a 6% note, due in 6 months. h. On March 15, the company collected $100 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 has an unadjusted credit balance of $1,150. Number of Days Unpaid 31 to 60 61 to 90 $ 80 $ 20 0 to 30 $ 100 Over 90 Customer Alabama Tourism Bayside Bungalows Others (not shown to save space) Xciting Xcursions Total Accounts Receivable Estimated Uncollectible (%) Total $ 200 350 16,000 400 $ 16,950 $ 350 800 7,900 1,000 6,300 400 $ 6,800 3% $ 7,980 15% $ 1,020 20% $ 1,150 40% Requirement General Journal General Ledger Trial Balance Income Statement Stmt of Retained Earnings Balance Sheet Analysis Choose the appropriate accounts to be reported on the income statement. However, you will need to calculate and enter the amount of the net income or loss for the period. VANISHING GAMES CORPORATION Income Statement For the Month Ended January 31, 2021 $ 0 $ 0 0 0 0