Prepare Chan's journal entries to record the transactions of December 31, February 1, and June 5. View transaction list Journal entry worksheet 1 2 3 4 Record the estimated bad debts expense. Note: Enter debits before credits. Date December 31 General Journal Debit Credit View general journal Record entry Clear entry > View transaction list Journal entry worksheet < 1 2 3 4 Wrote off P. Park's account as uncollectible. Note: Enter debits before credits. Date February 01 General Journal Debit Credit View general journal Record entry Clear entry > Journal entry worksheet < 1 2 3 4 Reinstated Park's previously written off account. Note: Enter debits before credits. Date June 05 General Journal Debit Credit > View general journal Record entry Clear entry Helix reported the following information in its financial statements. Write-offs of accounts receivable were $270 in the current year. Helix did not recover any write-offs. At December 31 Current Year Prior Year Accounts receivable Allowance for doubtful accounts $ 6,400 540 Accounts receivable, net $ 5,860 $ 4,700 420 $ 4,280 Determine Bad Debts Expense for the current year. Bad debts expense Journal entry worksheet 1 2 3 4 Record the cash received on account. Note: Enter debits before credits. Date June 05 General Journal Debit Credit View general journal Record entry Clear entry > ! Required information [The following information applies to the questions displayed below.] At year-end December 31, Chan Company estimates its bad debts as 0.70% of its annual credit sales of $857,000. Chan records its bad debts expense for that estimate. On the following February 1, Chan decides that the $429 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 to record the transactions of December 31, February 1, and June 5.