At year-end December 31, Chan Company estimates its bad debts as 0.30% of its annual credit sales of $843,000. Chan records its bad debts expense for that estimate. On the following February 1, Chan decides that the $422 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. Exercise 9-10 (Algo) Percent of sales mothod; write of 10 R2

At year-end December 31, Chan Company estimates its bad debts as 0.30% of its annual credit sales of $843,000. Chan records its bad debts expense for that estimate. On the following February 1, Chan decides that the $422 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. Required information Use the following information for the Exercises 10-11 below. (Algo) [The following information applies to the questions displayed below] At yeat-end December 31, Chan Company estimates its bad debts as 0.30% of its annuat credit sales of $843,000, Chan records its bod debts expense for that estimate. On the following February 1, Chan decides that the $422 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 Exercise 9-10 (Algo) Percent of sales method; write-off LO P3 Prepere Chan's joumal entries to record the transactions of December 31 , February 1 , and June 5 . Journal entry worksheet Alecord the estimated bad debts expense