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At year$-$end December $31,$ Chan Company estimates its bad debts as $0\mathrm{.}40\%$ of its annual credit sales of

$$655,000.$ Chan records its bad debts expense for that estimate. On the following February $1,$ Chan

decides that the $$328$ 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.

Determine the impact of the December $31,$ February $1,$ and June $5$ transactions on the accounting equation. For each

transaction, indicate whether there would be an increase, decrease, or no effect, for Assets, Liabilities, and Equity.

Note: Leave no cells blank.