At year-end (December 31 ), Chan Company estimates its bad debts as 1.00% of its annual credit sales of $852,000. Chan records its Bad Debts Expense for that estimate. On the following February 1 , Chan decides that the $426 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