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! Required information The following information applies to the questions displayed below] Web Wizard Incorporated, has provided information technology services for several years. For the

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! 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 esumate 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 $43.000 on credit d. On January 31, the company estimated bad debts using 2 percent of credit sales c On February 4, the company collected $21.500 of accounts receivable d on February 15, the company wrote off $100 account receivable e During February, the company provided services for $33,000 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 On March 31, the company accrued interest eared 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 hos an unadjusted credit balance of $1.230 nces Total 1200 umber of Days Raad 51 to 10 Overse 5 s dj Cutter Alabana Touris Bayside Bungalows Others (not shown to save space) xciting xcursions Total Accounts Receivable Estimated uncollectible (*) 7.100 3. 1. 17,600 400 S 1.630 5. $ 1.00 51,230 33.1 150 Required: 1. For Items (a) to (o analyze the transaction to determine effects on specific financial statement accounts and the overall accounting equation Center any decreases to Assets, Liabilitles, or Stockholders Equity with a minus [ign. Do not round Intermediate .) Assets Stockholders' Equity d d. Prey 6 7 8 ve here to search

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