Entries for uncollectible receivables, using allowance method Instructions Chart of Accounts General Journal Instructions May 24 Sept 30 Dec 7 Sold merchandise on account to Old Town Cafe $39.560. The cost of goods sold was $24,540 Received $11,930 from Old Town Cafe and wrote off the remainder owed on the sale of May 24 as uncollectible. Reinstated the account of Old Town Cafe that had been written off on September 30 and received $27.630 cash in full payment Journalize the above transactions in the accounts of Zippy Interiors Company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables 4 structions Jo un Chart of Accounts CHART OF ACCOUNTS Zippy Interiors Company General Ledger ASSETS 110 Cash 111 Petty Cash 121 Accounts Receivable-Old Town Cafe 129 Allowance for Doubtful Accounts 131 Interest Receivable 132 Notes Receivable 141 Inventory REVENUE 41 Sales 610 Interest Revenue EXPENSES 510 Cost of Goods Sold. 520 Sales Salaries Expense 521 Advertising Expense Chart of Accounts 141 Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 181 Land 191 Store Equipment 192 Accumulated Depreciation-Store Equipment 193 Office Equipment 194 Accumulated Depreciation-Office Equipment LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable 521 Advertising Expense 522 Depreciation Expense-Store Equipment 523 Delivery Expense 524 Repairs Expense 529 Selling Expenses 530 Office Salaries Expense 531 Rent Expense 532 Depreciation Expense-Office Equipment 533 Insurance Expense 534 Office Supplies Expense 535 Store Supplies Expense 536 Credit Card Expense 537 Cash Short and Over 538 Bad Debt Expense 539 Miscellaneous Expense 710 Interest Expense General Journal Journalize the transactions in the accounts of Zippy Interiors Company, a restaurant supply company that uses the allowance method of accounting for uncollectib receivables General Journal Instructions JOURNAL ACCOUNTING EQUATI DATE DESCRIPTION POST REF DEBIT CREDIT ASSETS LIABILITIES Next>>