At year-end (December 31), Chan Company estimates its bad debts as 0.20% of its annual credit sales of $904,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $452 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.

• Record the estimated bad debts expense.

Date	General Journal	Debit	Credit
Dec 31

• Wrote off P. Park's account as uncollectible.

Date	General Journal	Debit	Credit
Feb 01

• Reinstated Park's previously written off account.

Date	General Journal	Debit	Credit
Jun 05

• Record the cash received on account.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Jun 05