At year-end (December 31), Chan Company estimates its bad debts as 0.90% of its annual credit sales of $884,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $442 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.
At year-end (December 31). Chan Company estimates its bad debts as 0.90% of its annual credit sales of $884,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $442 account of P. Pork is uncollectible and writes it off as a bad debt. On June 5, Park unexpectedly pays the amount previously written oft. Prepare Chan's journal entries for the transactions View transaction list Journal entry worksheet 3 4 2 Record the estimated bad debts expense. Note: Enter debits before credits General Journal Dobit Credit Date Deo 31 Record entry Clear entry View general Journal At year-end (December 31). Chan Company estimates its bad debts as 0.90% of its annual credit sales of $884,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $442 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 46 Journal entry worksheet 2 3 4 > Wrote off P. Park's account as uncollectible. Note: Enter debits before credits Debit General Journal Credit Date Feb 01 View general Journal clear entry Record entry At year-end (December 31), Chan Company estimates its bad debts as 0.90% of its annual credit sales of $884,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $442 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 2 4 Reinstated Park's previously written off account. Note: Enter debits before credits Debit Credit General Journal Date Jun 05 View general journal Record entry Clear entry prov 1 of 5 Next > At year-end (December 31). Chan Company estimates its bad debts as 0.90% of its annual credit sales of $884.000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $442 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 10 Journal entry worksheet 3 es Record the cash received on account. Note: Enter debits before credits Debit Credit General Journal Date Jun 05 View general Journal Clear entry Record entry
