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Business, 16.03.2020 18:25 cadeduncan71
G:At year-end (December 31), Chan Company estimates its bad debts as 0.20% of its annual credit sales of $650,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $325 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 Chan's journal entries for the transactions.
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G:At year-end (December 31), Chan Company estimates its bad debts as 0.20% of its annual credit sale...
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