Required information [The following information applies to the questions displayed below. Web Wizard, Inc., 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 $49,000 on credit. b. On January 31, the company estimated bad debts using 2 percent of credit sales C. On February 4, the company collected $24,500 of accounts receivable d. On February 15, the company wrote off a $100 account receivable e. During February, the company provided services for $39,000 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 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 On March 31, the company adjusted for uncollectible accounts, based on an aging analysis (below). Allowance for Doubtful Accounts has an unadjusted credit balance of $1,290 Nimber of Days Unpaid Customer 0-30 $200$100 Total 31-60 61-90 Over 90 Alabama Touri Bayside Bungalows 0thers not shown to save space) Xciting Xcursions 80 20 $ 490 800 18, 800 400 7, 700 400 9, 300 1, 000 $19, 890 8, 200 9, 380 1, 020 $1, 290 Total Accounts Receivable Estinated Uncollectible (%) 3% 15% 20% 30%