Chan company’s year-end unadjusted trial balance shows account receivable of $215,000, allowance for doubtful accounts of $105 (credit), and credit sales of $975,000. uncollectibles are estimated to be 0.5% of annual credit sales. chan records its bad debts expense for that estimate on december 31. on the following february 1, chan decides that the $580 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.

Which of the following statements is true of unsought products? as compared to convenience products, unsought products are purchased more frequently. unsought products are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort. a life insurance policy is an example of an unsought product. unsought products have strong brand identification for which a significant group of buyers is willing to make a special purchase effort. unsought products are those products purchased for further processing or for use in conducting a business.