14. X GHI Company uses the allowance method of accounting for uncollectible accounts receivable. On December 6. Year 1, the company sold $6.300 of merchandise to the Customer Z on credit. On August 8, Year 2. after numerous attempts to collect the account, the controller at GHI determined that the account of Customer Z was uncollectible. Using the T-account below, prepare the following entries as needed: d. Sale of $6,300 of merchandise on credit to Customer Z on 12/6/year 1 e. Determination that the account is not collectible on 8/8/year 2. EQUITY ASSETS Property, Plant & Equipment Investments Intangible Assets/Other LIABILITIES Non- Current Current Liabilities Liabilities Contributed Capital Current Assets Earned Capital f. Assuming that the $6.300 is material, explain how the allowance method properly reflects the expense | recognition principle