At year-end (December 31), Chan Company estimates its bad debts as 1% of its annual credit sales of $487,500. Chan records its BadDebts Expense for that estimate. On the following February 1, Chan decides that the $580 account of P. Park is uncollectible and writesit off as a bad debt. On June 5, Park unexpectedly pays the amount previously written off.Prepare Chan's journal entries for the transactions.View transaction listJournal entry worksheet1234Record the estimated bad debts expense.Note: Enter debits before credits.DebitDateGeneral JournalCreditDec 31 At year-end (December 31), Chan Company estimates its bad debts as 1% of its annual credit sales of $487,500. Chan records its BadDebts Expense for that estimate. On the following February 1, Chan decides that the $580 account of P. Park is uncollectible and writesit off as a bad debt. On June 5, Park unexpectedly pays the amount previously written off.Prepare Chan's journal entries for the transactions.View transaction listJournal entry worksheet123Wrote off P. Park's account as uncollectible.Note: Enter debits before credits.DateGeneral JournalDebitCreditFeb 01

Question
Asked Oct 11, 2019
At year-end (December 31), Chan Company estimates its bad debts as 1% of its annual credit sales of $487,500. Chan records its Bad
Debts Expense for that estimate. On the following February 1, Chan decides that the $580 account of P. Park is uncollectible and writes
it off as a bad debt. On June 5, Park unexpectedly pays the amount previously written off.
Prepare Chan's journal entries for the transactions.
View transaction list
Journal entry worksheet
1
2
3
4
Record the estimated bad debts expense.
Note: Enter debits before credits.
Debit
Date
General Journal
Credit
Dec 31
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At year-end (December 31), Chan Company estimates its bad debts as 1% of its annual credit sales of $487,500. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $580 account of P. Park is uncollectible and writes it off as a bad debt. On June 5, Park unexpectedly pays the amount previously written off. Prepare Chan's journal entries for the transactions. View transaction list Journal entry worksheet 1 2 3 4 Record the estimated bad debts expense. Note: Enter debits before credits. Debit Date General Journal Credit Dec 31

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At year-end (December 31), Chan Company estimates its bad debts as 1% of its annual credit sales of $487,500. Chan records its Bad
Debts Expense for that estimate. On the following February 1, Chan decides that the $580 account of P. Park is uncollectible and writes
it off as a bad debt. On June 5, Park unexpectedly pays the amount previously written off.
Prepare Chan's journal entries for the transactions.
View transaction list
Journal entry worksheet
1
2
3
Wrote off P. Park's account as uncollectible.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
Feb 01
help_outline

Image Transcriptionclose

At year-end (December 31), Chan Company estimates its bad debts as 1% of its annual credit sales of $487,500. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $580 account of P. Park is uncollectible and writes it off as a bad debt. On June 5, Park unexpectedly pays the amount previously written off. Prepare Chan's journal entries for the transactions. View transaction list Journal entry worksheet 1 2 3 Wrote off P. Park's account as uncollectible. Note: Enter debits before credits. Date General Journal Debit Credit Feb 01

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