Help Save & Exilt Submit 6 Exercise 7-5 Percent of sales method; write-off LO P3...
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Help Save & Exilt Submit 6 Exercise 7-5 Percent of sales method; write-off LO P3 9.09 At year-end (December 31). Chan Company estimates its bad debts as 060% of its annual credit sales of $969,000. Chan records its Bad Debts Expense for that estimate. On the following February t, Chan decides that the $485 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 tran Journal entry worksheet C Prev 6 of 11 Next >
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