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Use the following information for the Exercises 1 0 - 1 1 below . ( Algo ) The following information applies to the questions displayed

Use the following information for the Exercises 10-11 below .(Algo) The following information applies to the questions displayed below At year-end December 31Chan Company estimates its bad debts as 0.90% of its annual credit sales of $768,000Chan records its bad debts expense for that estimateOn the following February 1, Chan decides that the $384 account of P Park is uncollectible and writes it off as a bad debtOn June 5Park 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

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