Required information The following information applies to the questions displayed below] At year-end December 31, Chan Company estimates its bad debts as 0.40% of its annual credit sales of $633,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $317 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. (Note from Dr. Beck: Record June 5 with two separate journal entries) Prepare Chan's journal entries to record the transactions of December 31 , February 1 , and June 5 . Journal entry worksheet 4 Record the estimated bad debts expense. Note: Enter debits bofore credits. Required information The following information applies to the questions displayed below] At year-end December 31, Chan Company estimates its bad debts as 0.40% of its annual credit sales of $633,000. Chan records its Bad Debts Expense for that estimate. On the following February 1. Chan decides that the $317 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. (Note from Dr. Beck: Record June 5 with two separate journal entries) Prepare Chan's journal entries to record the transactions of December 31, February 1, and June 5. Journal entry worksheet 4 Wrote off P. Park's account as uncollectible. Note: Enter detilts before crindas. Required information The following information applies to the questions displayed below] At year-end December 31 , Chan Company estimates its bad debts as 0.40% of its annual credit sales of $633,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $317 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. Note from Dr. Beck: Record June 5 with two separate journal entries) Prepare Chan's journal entries to record the transactions of December 31 , February 1 , and June 5. Journal entry worksheet 1 4 Reinstated Park's previously written off account. Note: Enter debits before credits. Required information The following information applies to the questions displayed below] At year-end December 31, Chan Company estimates its bad debts as 0.40% of its annual credit sales of $633.000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $317 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. (Note from Dr, Beck: Record June 5 with fwo separate journal entries) Prepare Chan's journal entries to record the transactions of December 31 , February 1, and June 5. Journal entry worksheet 1 2 3 Record the cash received on account. Note: Enter debits betore ondits
