At year-end (December 31). Chan Company estimates its bad debts as 0.5% of its annual credit sales of S975.(XX). Chan records its bad debts expense for that estimate. On the following February 1, Chan decides that the S5S0 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 the journal entries of Chan to record these transactions and events of December 31. February I. and June 5. At each calendar year-end. Mazie Supply Co. uses the percent of accounts receivable method to estimate bad debts. On December 31. 2015. it has outstanding accounts receivable of $55,000. and it estimates that 2% will be uncollectible. Prepare the adjusting entry to record bad debts expense for year 2015 under the assumption that the Allowance for Doubtful Accounts has (a) a S415 credit balance before the adjustment and (b) a $291 debit balance before the adjustment. Daley Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging of receivables analysis. Estimate the balance of the Allowance for Doubtful Accounts using the aging of method. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the allowance for doubtful accounts is a $3, 600 credit. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the allowance for doubtful accounts is a $100 debit