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 $0\mathrm{.}90\%$ of its annual credit sales of $$768,000$Chan records its bad debts expense for that estimateOn the following February $1,$ Chan decides that the $$384$ account of P Park is uncollectible and writes it off as a bad debtOn June $5$Park unexpectedly pays the amount previously written off Exercise $7-10($Algo$)$ Percent of sales method; write$-$off LO P$3$ Prepare Chan's journal entries to record the transactions of December $31,$ February $1,$ and June $5$