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At year-end (December 31), Chan Company estimates its bad debts as 0.30% of its annual credit sales of $753,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $377 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 of Chan to record these transactions and events of December 31, February 1, and June 5.
1. Record the estimated bad debts expense.2. Record the write off an account.3. Record reinstatement of an account.4. Record the cash received on account.
PROTECTION OF PROPERTY OF A DECEASED PERSON (a) No person may take possession of or dispose of or otherwise intermeddle with, any free property of a deceased person, unless he
THE SURPLUS CAPITAL METHOD Under this method, the initial amounts repaid to partners are in order to reduce their capitals to amounts such that these are now in the same ratio
received 16,000 contribution in exchange for common stock
what is non-current asset
Question 1: (a) Define program evaluation. (b) Discuss the four types of program evaluation that are usually carried in the Public Sector. Question 2 (a) You have
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