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Required information [ The following information applies to the questions displayed below. ] At year - end December 3 1 , Chan Company estimates its
Required information
The following information applies to the questions displayed below.
At yearend December Chan Company estimates its bad debts as of its annual credit sales of $ Chan
records its bad debts expense for that estimate. On the following February Chan decides that the $ account of
Park is uncollectible and writes it off as a bad debt. On June Park unexpectedly pays the amount previously written off.
Prepare Chan's journal entries to record the transactions of December February and June
Journal entry worksheet
Record the estimated bad debts expense.
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