entries for uncollectible receivables

Entries for Uncollectible Receives, using Allowance Method Joumate the following transactions in the accounts of Zippy Interiors Company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables: May 24 Sold merchandise an account to Old Town Cate $14,200. The cost of goods sold was $10,200. Sept. 30 Received $3,300 from Old Town Cafe and wrote of the remainder owed on the sale of May 24 as uncollectible. Dec 7 Reinstated the account of Old Town Cafe that had been written off on September 30 and received $10,900 cash in full payment. For a compound transaction, an amount box does not require an entry, leave it blank May 24-cost Sept. 30 Dec. 7-reinstated Dec. 7-collection May 24-sale May 24-cost Sept. 30 0 000 0 1 [ 000 0 Dec. 7-reinstated Dec. 7-collection