At year-end (December 31), Alvare Company estimates its bad debts as 0.60% of its annual credit sales of $630,000. Alvare...

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At year-end (December 31), Alvare Company estimates its bad debts as 0.60% of its annual credit sales of $630,000. Alvare records its Bad Debts Expense for that estimate. On the following February 1, Alvare decides that the $315 account of P. Coble is uncollectible and writes it off as a bad debt. On June 5, Coble unexpectedly pays the amount previously written off.

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