At year end (December 31), Chan Company estimates its bad debts as 0 60% of its annual credit sales of $636,000 Chan records its Bad Debts Expense for that estimate On the following February 1, Chan decides that the $318 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 of Chan to record these transactions and events of December 31, February 1, and June 5