Prepare Chan's journal entries to record the transactions of December 31, February 1, and June 5....

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Prepare Chan's journal entries to record the transactions of December 31, February 1, and June 5. View transaction list Journal entry worksheet 1 2 3 4 Record the estimated bad debts expense. Note: Enter debits before credits. Date December 31 General Journal Debit Credit View general journal Record entry Clear entry > View transaction list Journal entry worksheet < 1 2 3 4 Wrote off P. Park's account as uncollectible. Note: Enter debits before credits. Date February 01 General Journal Debit Credit View general journal Record entry Clear entry > Journal entry worksheet < 1 2 3 4 Reinstated Park's previously written off account. Note: Enter debits before credits. Date June 05 General Journal Debit Credit > View general journal Record entry Clear entry Helix reported the following information in its financial statements. Write-offs of accounts receivable were $270 in the current year. Helix did not recover any write-offs. At December 31 Current Year Prior Year Accounts receivable Allowance for doubtful accounts $ 6,400 540 Accounts receivable, net $ 5,860 $ 4,700 420 $ 4,280 Determine Bad Debts Expense for the current year. Bad debts expense Journal entry worksheet 1 2 3 4 Record the cash received on account. Note: Enter debits before credits. Date June 05 General Journal Debit Credit View general journal Record entry Clear entry > ! Required information [The following information applies to the questions displayed below.] At year-end December 31, Chan Company estimates its bad debts as 0.70% of its annual credit sales of $857,000. Chan records its bad debts expense for that estimate. On the following February 1, Chan decides that the $429 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 to record the transactions of December 31, February 1, and June 5. Prepare Chan's journal entries to record the transactions of December 31, February 1, and June 5. View transaction list Journal entry worksheet 1 2 3 4 Record the estimated bad debts expense. Note: Enter debits before credits. Date December 31 General Journal Debit Credit View general journal Record entry Clear entry > View transaction list Journal entry worksheet < 1 2 3 4 Wrote off P. Park's account as uncollectible. Note: Enter debits before credits. Date February 01 General Journal Debit Credit View general journal Record entry Clear entry > Journal entry worksheet < 1 2 3 4 Reinstated Park's previously written off account. Note: Enter debits before credits. Date June 05 General Journal Debit Credit > View general journal Record entry Clear entry Helix reported the following information in its financial statements. Write-offs of accounts receivable were $270 in the current year. Helix did not recover any write-offs. At December 31 Current Year Prior Year Accounts receivable Allowance for doubtful accounts $ 6,400 540 Accounts receivable, net $ 5,860 $ 4,700 420 $ 4,280 Determine Bad Debts Expense for the current year. Bad debts expense Journal entry worksheet 1 2 3 4 Record the cash received on account. Note: Enter debits before credits. Date June 05 General Journal Debit Credit View general journal Record entry Clear entry > ! Required information [The following information applies to the questions displayed below.] At year-end December 31, Chan Company estimates its bad debts as 0.70% of its annual credit sales of $857,000. Chan records its bad debts expense for that estimate. On the following February 1, Chan decides that the $429 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 to record the transactions of December 31, February 1, and June 5.