Required information Use the following information for the Exercises 10-11 below. (Algo) [The following information applies to the questions displayed below] At year-end December 31 , Chan Company estimates its bad debts as 0.80% of its annual credit sales of $836,000. Chan records its bad debts expense for that estimate. On the following February 1, Chan decides that the $418 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 7-10 (Algo) Percent of sales method; write-off LO P3 Prepare Chan's journal entries to record the transactions of December 31, February 1, and June 5. Journal entry worksheet 2 4 Note: enter gebits perore crears: Required information Use the following information for the Exercises 10-11 below. (Algo) [The following information applies to the questions displayed below] At year-end December 31, Chan Company estimates its bad debts as 0.80% of its annual credit sales of $836,000. Chan records its bad debts expense for that estimate. On the following February 1, Chan decides that the $418 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 7-10 (Algo) Percent of sales method; write-off LO P3 Prepare Chan's journal entries to record the transactions of December 31, February 1, and June 5. Journal entry worksheet Note: Enter debits before creaits. Required information Use the following information for the Exercises 10-11 below. (Algo) [The following information applies to the questions displayed below.] At year-end December 31 , Chan Company estimates its bad debts as 0,80% of its annual credit sales of $836,000. Chan records its bad debts expense for that estimate. On the following February 1, Chan decides that the $418 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 7-10 (Algo) Percent of sales method; write-off LO P3 Prepare Chan's journal entries to record the transactions of December 31, February 1, and June 5. Journal entry worksheet 4 Reinstated Park's previously written off account. Note: Enter debits before credits. Required information Use the following information for the Exercises 10-11 below. (Algo) [The following information applies to the questions displayed below] At year-end December 31, Chan Company estimates its bad debts as 0.80% of its annual credit sales of $836,000. Chan records its bad debts expense for that estimate, On the following February 1, Chan decides that the $418 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 7-10 (Algo) Percent of sales method; write-off LO P3 Prepare Chan's journal entries to record the transactions of December 31, February 1, and June 5. Journal entry worksheet 1 Record the cash received on account. Note: Enter debits before credits
