At year-end (December 31). Chan Company estimates its bad debts as 0.70% of its annual credit sales of $976,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $488 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 1 2 3 4 Record the estimated bad debts expense. Note: Enter debits before credits General Journal Debit Credit Dato Dec 31 Record entry Clear entry View general journal At year-end (December 31). Chan Company estimates its bad debts as 0.70% of its annual credit sales of $976,000. Chan records its Bad Debts Expense for that estimate. On the following February 1. Chan decides that the $488 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 3 4 Wrote off P. Park's account as uncollectible. Note: Enter debits before credits Date General Journal Debit Credit Feb 01 Record entry Clear entry View general Journal At year-end (December 31). Chan Company estimates its bad debts as 0.70% of its annual credit sales of $976,000. Chan records its Bad Debts Expense for that estimate. On the following February 1. Chan decides that the $488 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 1 2 3 4 Reinstated Park's previously written off account. Note: Enter debits before credits General Journal Debit Credit Dato Jun 05 Record entry Clear entry View general Journal At year-end (December 31), Chan Company estimates its bad debts as 0.70% of its annual credit sales of $976,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $488 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 1 2 3 Record the cash received on account Note: Enter debits before credits Date General Journal Debit Credit Jun 05 Record entry Clear entry View general Journal