Required information Use the following information for the Exercises 10-11 below. (Algo) [The following information applies to the questions displayed below] At year-end December 31, Chan Company estimates its bad debts as 0.50% of its annual credit sales of $837,000. Chan records its bad debts expense for that estimate. On the following February 1, Chan decides that the $419 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 Exercise 7-10 (Algo) Percent of sales method; write-off LO P3 Prepare Chan's journal entries to record the transactions of December 31, February 1. and June 5. View transaction list Journal entry worksheet Journal entry worksheet 2 F Record the estimated bad debts expense. er dabits before s Dete December 21 2 90 X wer-launchUrt-http%253A%25 Spint General Journal Dubit Credit F2 F3 F4 F5 3 # 54 din % 2 W < < Pav 2003 F6 DELL F7 F8 F9 A & 6 7 80-> E R T Y U Journal entry worksheet 4 Wrote off P. Park's yccount as uncollectible. Car debts before adds Oues February 01 0 4 F2 62 X Que Jelaunchdifhttp%253A% General Joumal Debit Credit P 7668 DELL F3 F4 FS F6 F7 #3 *5 54 % 66 W E R FB & 7 8 T Y U Journal optry worksheet Reinstated Park's previously written off account. Note: ter debts before credits 2 2 Dobe June 05 F2 05launchul-http25 General Journal Dubit Credit < Prox 6 of 16 BE * F3 F4 F5 F6 #3 4 $ 44 % 5 66 DELL F7 HAVE &7 FB 02 4 F2 Journoi satry worksheet Record the cash retived on account. better as before credits Det June 05 MQue aunch http%253A%25 General Joumal Dubit Credit < PHY No DELL F3 F4 F5 F6 F7 FB 3 M 54 $ % A 5 6 &7