Help Save & Exit Ch 7 Homework Check my At year-end (December 31). Chan Company estimates its bad debts as 0.50% of its annual credit sales of $750,000. Chan records its Bad Debts Expense for that estimate On the following February 1, Chan decides that the $375 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 167 Prepare Chan's journal entries for the transactions View transaction list Journal entry worksheet Record the estimated bad debts expense, [The following information applies to the questions displayed below.] Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $44,200. The machine's useful life is estimated at 10 years, or 392,000 units of product, with a $5,000 salvage value. During its second year, the machine produces 33,200 units of product. Determine the machine's second-year depreciation and year end book value under the straight-line method Straight-Line Depreciation Annual Depreciation Expense Choose Numerator: Choose Denominator: Depreciation exponse Your 2 Depreclation Yoar and book value (Year 2). of 8 Next >