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 percentege of credit sales method to estimate bad debts. At the end of the first quarter, the company switched to the aging of occouns recelvable method The company entered into the following parplar list of transactions during the first quarec. a. Durng January, the compony provided services for $40.000 on credit. b. On January 3t, the company estimated bad debts using 1 percent of credin seles c On February 4 , the-company collected $20,000 of accoumts receivable. d. On February 15, the company wrote off $100 account recelvable. e. During February, the company provided services for $30,000 on credit. tOn Februbry 28, the compony estimated bod debts using t percent of credit sales. 9. On March 1, the company loaned $2,400 to an employee. who signed o 65 note, due in 6 months. h On Match 15, the company coliected $100 on the eccount written off one month earler 1 On March 3t, the compary accrued interest earned on the note. fOn March 31, the company dofusted for uncollectible accounts, based on the following oging analysis, which inciudes the preceding transactions (as wed as others not listed) Ptior to the adjustment, Allowance for Doubtful Accounts has an unacjusted credit bilance of $1,200. Aequired: 1. For isems is to (h, analyze the transaction to determine effects on specific financial statement accounts and the overail accounting equation (Enter any decreases to Assets, Liabilities, or Steckheiders Equily with a minus sign, Do not round intermediate calculations.)