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 $44,000 on credit b. On January 31, the company estimated bad debts using 1 percent of credit sales c on February 4, the company collected $22,000 of accounts receivable. d. On February 15, the company wrote off a $150 account receivable. e. During February, the company provided services for $34,000 on credit f On February 28, the company estimated bad debts using 1 percent of credit sales On March 1, the company loaned $2,200 to an employee, who signed a 6% note, due in 6 months. h. On March 15, the company collected $150 on the account written off one month earlier i On March 31, the company accrued interest earned on the note. j On March 3 1, the company adjusted for uncollectible accounts, based on an aging analysis (below). Allowance for Doubtful Accounts has an unadjusted credit balance of $1.240. sumber of Days Unpaid Custoner total 0-30 ,1-60 61-90 Over 90 $230 $ 110 $90$ 30 Alabama Tourism Bayside Bungalowes Others (not shown to save space) Xeiting xeursions $ 440 900 440 18,000 7,2008,800 1,100 390 390 $19,060 $7,700 $8,89 1,130 $1,340 Total Accounts Receivable Est inated Uncollectible () 2 20N 20 30 2. Prepare the journal entries for Items (a)-1. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate caleulations-) View transaction list Journal entry worksheet 12 3 4 5 678 Record service revenue of $44,000 sold on account during January. 11 Note: Enter debits before credits. Record entry Clear entry Vlaw general journal 390 390 Xciting Xcursions Total Accounts Receivable Ratimated Uncollectible (3) $19,060 $7,700 $8,890 $1,130 $1,3 29 10% 201 2 Prepare the journal entries for items (aH1) (If no entry is required for a transaction/event, selec the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet 3 456 78... 11 Record the adjusting entry for bad debts as of January 31 using 1 percent of credit sales. Note: Enter debits before credits. General Journal Debit Credit b. Record entry Claar entry View general Journat K Prev MacBool Others (not shown to Bave space Xeiting Xcursions 390 390 $19,060 $7-700 $8,890$1.130$1 Total Accounts Receivable Batimated Uncollectible ) 23 101 203 2. Prepare the journal entries for items (a-t (f no entry is required for a transaction/event, se the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet 4 5 67811 Record the collection of $22,000 of outstanding accounts receivabies on February 4. Note: Enter debits before credits. Debit Credit Record entry Clear entry Viow genoral journal Prev 9 $19 960 20 total Accounte Receivable Eatinated Uncollectible () 21 101 2 Prepare the journal entries for items (a-U) (f no entry is required for a transaction/event, select the first account field. Do not round intermediate calculations.) Journal entry worksheet 1 23 4 5 678 11 Record the write-off of a $150 account receivable on February 15. Note: Enter debits before credits. General Journal Debit Credit d. Record antry clear entry View general journal SPrev of MacBool BRD Othere (not Xeiting Xcursions 208 $19,060 $7,700 8,890 101 Total Accounts Receivable Estinated Uncollectible () s required for a transaction/event, se 2. Prepare the journal entries for tems (e-(R (If no entry i the first account field. Do not round intermediate calculations) View transaction list Journal entry worksheet Record service revenue of $34,000 provided on account during February. Note: Enter debits before credits Debit Credit e. Record entry Clear entry Viee general journal K Prey 9 Total Accounts ReUL Eatinated Oncollectible () 2 Prepare the journal entries for items (a-U). (If no entry is required for a transaction/even the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet 5 7 8 11 Record the adjusting entry for bad debts as of February 28 using 1 percent of credit sales. Note: Enter debits before credits General Journal Debit Credit Record entry Clear entry View general journal Prev Alabana Touriam Bayside Rungalows Others (not shown to save space) Xeiting Xoursions 18,000 390 390 $19,060 $7,700 $8,890 $1,13 209 101 otal Accounts Receivable Eatinated Uncollectible (O) 23 (If no entry is required for a transaction/event, sele 2 Prepare the journal entries for tems (a- the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet 6 8 11 Record the receipt of a note on March 1 for a $2,200 loan to an employee. Note: Enter debits before credits Debit Credit Rscord entry Clear entry Viow general Journal S Prey 9 Alabana fouriam Bayaide Bungalows Othere (not shown to save space) Xeiting Xeuraions 18, 000 390 $19,060 $7,700 $8,890 $1,130 208 390 10 28 Total Accounta Receivable Estinated Oncollectible () 2 Prepare the joumal entries for items (a-(Q (If no entry is required for a transaction/event, sele the first account field. Do not round intermediate calculations.) View transaction list ournal entry worksheet Record the reversal of a $150 account receivable previously written off one month earlier Note: Enter debits before credits. n(t) Journal Debit Credit cord entry Clear entry Viee general Journal sav ,13 $19,060 $7,7008,890 108 Others (not shown to 208 Xciting Xoursions 24 Total Accounts Receivable Eetinated Uncollectible () , sele 2 Prepare the journal entries for Items (a-0) (f no entry is required for a transaction/event the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet 7 8 Record the receipt of cash of $150 from the customer. Note: Enter debits before credits General Journal h(2) Debit Credit Clear entry View general journal Prey 9 Alabasa Touria Bayside Bungalows others (not shown to save apace) Xciting Xcurnions 18,000 390 390 $19,060 $7,700 $8,890 $1,130 $1,3 2 1203 Total Accounts Receivable Estinated Oncollectible 2 Prepare the journal entries for items (aj-Ul (If no entry is required for a transaction/event, selec the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet 6 8 9 10 Record the interest accrued on the note as of March 31. Note: Enter debits before credits Debit Credit Racord entry Clear entry Vieu general journal Prev 9 Alabana Touriam Bayaide Rungalows Otbers (not shown to save apace) xciting Xoursions 18,000 390 390 $19,060 $7,700 $8,890 $1,130 $1 209 108 28 Total Accounts Receivable Estinated Uncollectible () (f no entry is required for a transaction/event, sele 2. Prepare the journal entries for items (a- the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet 10 Record the adjusting entry for bad debts as of March 31 using the aging of accounts receivable method. Note: Enter debits belore credits. Debit Credit Racord entry Clear entry View general journal rey