At year-end (December 31). Chan Company estimates its bad debts as 0.70% of its annual credit sales of $979,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $490 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 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 $979,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $490 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 > Reinstated Park's previously written off account. Note: Enter debits before credits Date General Journal Debit Credit Jun 05 View general Journal Record entry Clear entry At year-end (December 31). Chan Company estimates its bad debts as 0.70% of its annual credit sales of $979,000. Chan records its Bad Debts Expense for that estimate. On the following February 1 Chan decides that the $490 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 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