Exercise 9-6 Percent of sales method; write-off LO P3 At year-end (December 31), Chan Company estimates its bad debts as 0.90% of its annual credit sales of $966,000, Chan records its Bad Debts Expense for that estimate. On the following February 1. Chan decides that the $483 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