allowance method

Allowance Method Journalize the following transactions, using the allowance method of accounting for uncollectible receivables Oct. 2. Received $2,940 from lan Kearns and wrote off the remainder owed of $7,200 as uncollectible. If an amount box does not require an entry, leave it blank. Oct. 2 - Dec. 20. Restated the account of lan Kearns and received 57,200 cash in full payment. Restate Collection