At year-end (December 31), Chan Company estimates its bad debts as 0.30% of its annual credit sales of $939,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $470 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. View transaction list Journal entry worksheet 1 2 3 4 Record the estimated bad debts expense. Note: Enter debits before credits General Journal Date Debit Credit Dec 31 Record entry Clear entry View general journal