Entries for uncollectible receivables, using allowance method Instructions Chart of Accounts Journal Instructions Apr. 2 June 9. Oct. 31. Sold merchandise on account to Peking Palace Co.. $39,560. The cost of the merchandise sold was $24,540 Received $11,030 from Peking Palace Co. and wrote off the remainder owed on the sale of April 2 as uncollectible. Reinstated the account of Peking Palace Co. that had been written off on June 9 and received $27,630 cash in full payment. Joumalize the above transactions in the accounts of Dining 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 seles