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 curent yeat, 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 partiallist of transactions during the first quarter. a During January, the company provided services for $30,000 on credit. b. On January 31 the company estumated bad debts using 1 percent of credit sales cion Februany 4 the compory collected $15,000 of accounts fecelvable d. On February 15 , the compony wrote off $200 occotnt ceceivable e Dung February, the compony provided services for $20,000 on credt g. On March 1 the company loaned $2800 to an employes Who sloned a 65 inote due in of monti I On March 31, the company accued irterest earned on the nate an unadjusted credit balance of $1100 Sales Revenue and Service Revenue are two income statement accounts that relate to Accounts Receivable Name two othe accounts related to Accounts Recelvable and Notes Receivable that probid be reported on the income statcment and indicate Whether each would appear before, or after Income from Operations 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 curent yeat, 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 partiallist of transactions during the first quarter. a During January, the company provided services for $30,000 on credit. b. On January 31 the company estumated bad debts using 1 percent of credit sales cion Februany 4 the compory collected $15,000 of accounts fecelvable d. On February 15 , the compony wrote off $200 occotnt ceceivable e Dung February, the compony provided services for $20,000 on credt g. On March 1 the company loaned $2800 to an employes Who sloned a 65 inote due in of monti I On March 31, the company accued irterest earned on the nate an unadjusted credit balance of $1100 Sales Revenue and Service Revenue are two income statement accounts that relate to Accounts Receivable Name two othe accounts related to Accounts Recelvable and Notes Receivable that probid be reported on the income statcment and indicate Whether each would appear before, or after Income from Operations
