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Check Required information Use the following Information for the Exercises 10-11 below. (Algo) [The following information applies to the questions displayed below.) At year-end December 31, Chan Company estimates its bad debts as 0.40% of its annual credit sales of $842,000 Chan records its bad debts expense for that estimate. On the following February 1, Chan decides that the $421 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 Exercise 9-10 (Algo) Percent of sales method; write-off LO P3 Prepare Chan's journal entries to record the transactions of December 31, February 1, and June 5 View transaction list Journal entry worksheet Required information Journal entry worksheet 1 2 3 4 Record the estimated bad debts expense. Note: Enter debits before credits. Date General Journal Debit Credit December 31 Record entry Clear entry View general jour C Requireu information Journal entry worksheet