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 $48,000 on credit. b. On January 31, the company estimated bad debts using 1 percent of credit sales. c On February 4, the company collected $24,000 of accounts receivable. d On February 15, the company wrote off a $200 account recelvable. e During February, the company provided services for $38,000 on credit f On February 28, the company estimated bad debts using 1 percent of credit sales g On March 1, the company loaned $2.800 to an employee, who signed a 6% note, due in 6 months. h On March 15, the company collected $200 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 $1,280 Number of Days Unpaid 70 $ 10 Total 0-30 31-60 61-90 Over 98 200 120 Alabama Tourism Bayside Bungalows Others (not shown to save space) Xciting Xcursions $ 480 18,700 7,600 9,280 1,280 70 480 80 380 $19,760 8,10 $9,270 $1,210 $1,180 Total Accounts Receivable Estimated Uncollectible (%) 2% 10% 20% 35% 3 4 5 6 7 Record the adjusting entry for bad debts as of January 31 using 1 percent of credit sales. Note: Enter debits before credits. Transaction General Journal Debit Credit b. 2 4 5 6 7 Record the collection of $24,000 of outstanding accounts receivables on February 4 Note: Enter debits before credits. Transaction General Journal Debit Credit . 2 3 4 6 7 8 Record the write-off of a $200 account receivable on February 15. Note: Enter debits before credits Transaction General Journal Oebit Credit d. 1 2 3 4 5 6 7 8 Record the adjusting entry for bad debts as of February 28 using 1 percent of credit sales. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 3 4 5 6 7 Record the receipt of a note on March 1 for a $2,800 loan to an employee. Note: Enter debits before credits. Transaction General Journal Debit Credit g. Journal entry worksheet 1 2 3 4 5 6 7 Record the reversal of a $200 account receivable previously written off one month earlier. Note: Enter debits before credits. Transaction General Journal Debit Credit K 4 5 6 789.. Record the receipt of cash of $200 from the customer. Note: Enter debits before credits. Transaction General Journal Debit Credit h(2). K1 4 5 6 7 8 9 10 11 Record the interest accrued on the note as of March 31. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 4 5 6 7 8 9 10 Record the adjusting entry for bad debts as of March 31 using the aging of accounts receivable method. Note: Enter debits before credits. Transaction General Journal Debit Credit