Entries for uncollectible receivables, using allowance method Instructions Chart of Accounts Journal Instructions May 1. Aug 30 Sold merchandise on account to Beijing Palace Co., $18.900. The cost of the merchandise sold was $11.200 Received $8,000 from Beijing Palace Co. and wrote off the remainder owed on the sale of May 1 as uncollectible Reinstated the account of Beijing Palace Co. that had been written off on August 30 and received $10,000 cash in full payment Dec 8. Required: Journalize the above transactions in the accounts of Sedona 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 accountilles Previous Next > Entries for uncollectible receivables, Instructions Chart of Accounts Journal Instructions Journal Chart of Accounts x ASSETS REVENUE 110 Cash 410 Sales 610 Interest Revenue 111 Petty Cash 121 Accounts Receivable-Beijing Palace Co. 129 Allowance for Doubtful Accounts 131 Interest Receivable 132 Notes Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance EXPENSES 510 Cost of Merchandise Sold 520 Sales Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Store Equipment 523 Delivery Expense 524 Repairs Expense 529 Seling Expenses 530 Office Salaries Expense 181 Land 191 Store Equipment 192 Accumulated Depreciation Store Equipment 531 Rent Expense