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 During January, the company provided services for $41,000 on credit On January 31, the company estimated bad debts using 2 percent of credit sales On February 4, the company collected $20,500 of accounts receivable On February 15, the company wrote off $150 account receivable During February, the company provided services for $31,000 on credit On February 28, the company estimated bad debts using 2 percent of credit sales On March 1, the company loaned $2,600 to an employee, who signed a 6 note, due in 6 months On March 15, the company collected $150 on the account written off one month earlier On March 31, the company accrued interest earned on the note 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 has an unadjusted credit balance of $1,210 Customer Total Number of Days Unpaid 0 to 30 31 to 60 61 to 90 Over 90 Alabama Tourism $ 230 $ 110 $ 90 $ 30 Bayside Bungalows 410 $ 410 Others (not shown to save space) 17,400 6,900 8,500 1,100 900 Xciting Xcursions 390 390 Total Accounts Receivable $ 18,430 $ 7,400 $ 8,590 $ 1,130 $ 1,310 Estimated Uncollectible ( ) 3 10 20 30 Required For items (a) to (j) , analyze the transaction to determine effects on specific financial statement accounts and the overall accounting equation (Enter any decreases to Assets, Liabilities, or Stockholders Equity with a minus sign Do not round intermediate calculations ) 1 For items (a) to (i), analyze the transaction to determine effects on specific financial statement accounts and the overall accounting equation (Enter any decreases to Assets, Liabilities, or Stockholders Equity with a minus sign Do not round intermediate calculations ) Assets Liabilities Stockholders' Equity e f g g h h h h i j

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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

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.

During January, the company provided services for $41,000 on credit.
On January 31, the company estimated bad debts using 2 percent of credit sales.
On February 4, the company collected $20,500 of accounts receivable.
On February 15, the company wrote off $150 account receivable.
During February, the company provided services for $31,000 on credit.
On February 28, the company estimated bad debts using 2 percent of credit sales.
On March 1, the company loaned $2,600 to an employee, who signed a 6% note, due in 6 months.
On March 15, the company collected $150 on the account written off one month earlier.
On March 31, the company accrued interest earned on the note.
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 has an unadjusted credit balance of $1,210.

Customer	Total	Number of Days Unpaid
Customer	Total	0 to 30	31 to 60	61 to 90	Over 90
Alabama Tourism	$ 230	$ 110	$ 90	$ 30
Bayside Bungalows	410				$ 410
Others (not shown to save space)	17,400	6,900	8,500	1,100	900
Xciting Xcursions	390	390
Total Accounts Receivable	$ 18,430	$ 7,400	$ 8,590	$ 1,130	$ 1,310
Estimated Uncollectible (%)		3%	10%	20%	30%

Required:

For items (a) to (j), analyze the transaction to determine effects on specific financial statement accounts and the overall accounting equation. (Enter any decreases to Assets, Liabilities, or Stockholders Equity with a minus sign. Do not round intermediate calculations.)

1. For items (a) to (i), analyze the transaction to determine effects on specific financial statement accounts and the overall accounting equation. (Enter any decreases to Assets, Liabilities, or Stockholders Equity with a minus sign. Do not round intermediate calculations.) Assets Liabilities Stockholders' Equity + - + + | + + = + e = + f. + + g g h + h = + h = + h. + i. + j