! 25 noints 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 $772,000. Chan records its bad debts expense for that estimate. On the following February 1, Chan decides that the $386 account of P. Park is uncollectible and writes it off as a bad debt. On June 5, Park unexpectedly pays the amount previously written of Book Prepare Chan's journal entries to record the transactions of December 31, February 1, and June 5. Hint View transaction list Print Journal entry worksheet References 1 2 > Record the estimated bad debts expense Note: Enter dobro bori credits nts View transaction list Journal entry worksheet eBook