At year-end December 31 , Chan Company estimates its bad debts as 0.90% of its annual credit sales of $717,000. Chan records its bad debts expense for that estimate. On the following February 1 , Chan decides that the $359 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. trepare Chan's journal entries to record the transactions of December 31 , February 1 , and June 5. Journal entry worksheet Journal entry worksheet Wrote off P. Park's account as uncollectible. Note: Enter debits before credits. Prepare Chan's journal entries to record the transactions of December 31 , February 1, and June 5. Journal entry worksheet Reinstated Park's previously written off account. Note: Enter debits before credits. Prepare Chan's journal entries to record the transactions of December 31 , February 1 , and June 5 . Journal entry worksheet Record the cash received on account. Note: Enter debits before credits