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 $622,000. Chan records its bad debts expense for that estimate. On the following February 1, Chan decides that the $311 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 View transaction list Journal entry worksheet 1 3 4 > Record the estimated bad debts expenso. Note Enter debts before credits Date General Journal Debit Credit December 31 Recent Clearly View general Record the cash received on account. Note: Enter debits before credits. Date General Journal Debit Credit June 05 Record entry Clear entry View general journal