4 At year-end (December 31), Chan Company estimates its bad debts as 100% of its annual credit sales of $784,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $392 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 eBook View transaction list Hint Journal entry worksheet 1 2 Record the estimated bad debts expense. Note: Enter debits before credits General Journal Date Dec 31 Debit Credit Record entry Clear entry View general Journal ME Hill Q SA