At year-end December 31, Chan Company estimates its bad debts as 0.40% of its annual credit sales of $664,000. Chan records its bad debts expense for that estimate. On the following February 1, Chan decides that the $332 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. Determine the impact of the December 31, February 1, and June 5 transactions on the accounting