ice Exercises Question 1-6-1 Practice Exercises-Connect Saved Help Save & Exit Check r 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 0.70% of its annual credit sales of $935,000. Chan records its bad debts expense for that estimate. On the following February 1, Chan decides that the $468 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 7-9 (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 < 1 2