at year-end december 31, chan company estimates its bad debts as 0.90% of its annual credit sales of $735,000. chan records its bad debts expense for that estimate. on the following february 1, chan decides that the $368 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.