At year$-$end $($December $31),$ Chan Company estimates its bad debts as $0\mathrm{.}20\%$ of its annual credit sales of $$672,000.$ Chan records its Bad Debts Expense for that estimate. On the following February $1,$ Chan decides that the $$336$ 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 Chan's journal entries for the transactions.

Journal entry worksheet

$1$

$2$

$3$

$4$

Record the estimated bad debts expense.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$Dec $31,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$