Required information Use the following information for the Exercises 9-10 below. (Algo) {The following information applies to the questions displayed below) At year-end December 31, Chan Company estimates its bad debts as 0.90% of its annual credit sales of $954,000 Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $477 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. No Date Answer is complete but not entirely correct. General Journal Bad debts expense Allowance for doubtful accounts Debit Credit 1 Dec 31 858,600 X 858,600 2 Feb 01 477 Allowance for doubtful accounts Accounts receivable-P. Park 477 3 Jun 05 Accounts receivable-P. Park Allowance for doubtful accounts 477 477 4 Jun 05 > 477 . Cash Accounts receivable P. Park 477