Entries for uncollectible receivables, using allowance method Instructions Chart of Accounts Journal Instructions 24 May Sept 30 Sold merchandise on account to Old Town Cale $36,010 The cost of the goods sold was $22,050. Received $11.500 from Old Town Cate and wrote of the remainder owed on the sale of May 24 as uncollectible Reinstated the account of Old Town Calo that had been written off on September 30 and received $24,510 cash in full payment Dec 7 Joumalize the above transactions in the accounts of Zippy Interiors Company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables. Refer to the Chart of Accounts for exact wording of account titles. TWEE JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST RER DESIT 1 CHE ASSETS LABLES TOUTY 2 1 3 & 1 1 10 11