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Need help solving journal entrys. All information provided. Required information [The following information applies to the questions displayed below] At year-end December 31, Chan Company
Need help solving journal entrys. All information provided.
Required information [The following information applies to the questions displayed below] At year-end December 31, Chan Company estimates its bad debts as 0.60% of its annual credit sales of $734,000. Chan records its bad debts expense for that estimate. On the following February 1. Chan decides that the $367 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 to record the transactions of December 31, February 1, and June 5. Journal entry worksheet 2 4 Journal entry worksheet 4 Wrote off P. Park's account as uncollectible. Notei Enter debits before credits. Journal entry worksheet Reinstated Park's previously written off account. Nole: Enter debits before creditsi. Journal entry worksheet 1 Record the cash received on account. Notes Enter debits before credits Step by Step Solution
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