Required information [The following information applies to the questions alsplayed below.] At year-end December 31. Chan Company estimates its bad debts as 1.00% of Its annual credit sales of $714,000. Chan records Its bad debts expense for that estimate. On the following February 1. Chan decides that the $357 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 entrles to record the transactlons of December 31, February 1, and June 5. Journal entry worksheet Note: Enter debits before credits. Required information [The following information applies to the questions alisplayed below.] At year-end December 31. Chan Company estimates Its bad debts as 1.00% of Its annual credit sales of $714,000. Chan records Its bad debts expense for that estimate. On the following February 1, Chan decides that the $357 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 entrles to record the transactions of December 31, February 1, and June 5. Journal entry worksheet Note: tnter aenits Detore crecits. Required information [The following information applies to the questions alsplayed below.] At year-end December 31. Chan Company estimates its bad debts as 1.00\% of Its annual credit sales of $714,000. Chan records Its bad debts expense for that estimate. On the following February 1. Chan decides that the $357 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 entrles to record the transactions of December 31, February 1, and June 5. Journal entry worksheet 4 Reinstated Park's previously written off account. Note: Enter debits before credits. Required information [The following information applles to the questions alsplayed below.] At year-end December 31, Chan Company estimates its bad debts as 1.00% of Its annual credit sales of $714,000. Chan records Its bad debts expense for that estimate. On the following February 1, Chan decides that the $357 account of P. Park is uncollectible and writes it off as a bad debt. On June 5 . Park unexpectedly pays the amount prevlously written off. Prepare Chan's journal entrles to record the transactions of December 31, February 1, and June 5. Journal entry worksheet Note: Enter debits before credits