1. Alvare company report the following on Dec 31. Credit sales Cash sales Allowance for Doubtful Accounts $875,000 $250,000 $250 (credit balance) Answer the following questions 1. Alvare Company estimates its bad debts as 0.5% of its annual credit sales. Record the Bad Debts Expense for that estimate. 2. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet. 3. On the following February 1, Alvare decides that the $420 account of P. Coble is uncollectible and writes it off as a bad debt. Record this journal entry. 4. On June 5, Coble unexpectedly pays the amount previously written off. Record this journal entry.