At year-end (December 31), Chan Company estimates its bad debts as 0.30% of its annual credit sales of $853,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $427 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. View transaction list Journal entry worksheet 2 3 4 Record the estimated bad debts expense. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31 Record entry Clear entry View general journal At year-end (December 31), Chan Company estimates its bad debts as 0.30% of its annual credit sales of $853,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $427 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. View transaction list Journal entry worksheet