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. 1. During January, the company provided services for $30,000 on credit b. On January 31, the company estimated bad debts using 1 percent of credit sales. c On February 4, the company collected $15,000 of accounts receivable. d. On February 15, the company wrote off $200 account receivable. e During February, the company provided services for $20,000 on credit. On February 28, the company estimated bad debts using 1 percent of credit sales. 9 On March 1, the company loaned $2,800 to an employee, who signed a 6% note, due in 6 months h On March 15, the company collected $200 on the account written off one month earlier On March 31, the company accrued interest earned on the note. JOn 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 $1,100. Number of Days Unpaid 31 to 60 1 to 90 5 70 5.10 to 30 $ 120 Over 90 Customer Alabama Touri Dayaide Dungalows Others (not shows to save space) Xetting Yeursions Total Accounts Receivable tinated Uncollectible (1) Total $ 200 300 25,200 300 $ 15,980 $300 700 7.400 1,200 5,800 300 5.5,300 20 5 7. 470 100 51,220 200 5.1,000 350 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 (Do not round intermediate calculations.) WEB WIZARD, INCORPORATED Partial Balance Sheet Al March 31 Assets Current Assets Accounts Receivable, Net of Allowance