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  3. at year-end ( december 31), chan company estimates

At year-end ( december 31), chan company estimates its bad debts as .70% of its...

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Accounting

At year-end ( december 31), chan company estimates its bad debts as .70% of its annual credit sales of $686,000. Cha records its bad debts expense for that eatimate. On tbe followynf Febuary 1, Chan decides that the $343 account of P.Park is uncollectibpe and writes it off as a bad debt. On June 5, Park unexpectedly pays the amount prevoiusley written off.
Prepare the journal entires for theese transactions
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Chec At year-end (December 31). Chan Company estimates its bad debts as 0.70% of its annual credit sales of $686,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $343 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 the journal entries for these transactions View transaction list Journal entry worksheet 2 3 4 Record the estimated bad debts expense, Note: Enter debits before credits Debie | Credit General Journal Date Dec 31

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