Entries for Uncollectible Receivables, using Allowance Method Journalize the following transactions in the accounts of Arizona Interiors Company, a Restaurant Supply Company that uses the allowance method of accounting for uncollectible recelvables: May 1. Sold merchandise on account to Taiwan Palace C0. $17,700. The cost of the merchandise sold was $12,700. Aug. 30. Recelved $5,000 from Taiwan Palace Co. and wrote off the remainder owed on the sale of May 1 as uncollectible. Dec. 8. Reinstated the account of Taiwan Palace Co, that had been written off on August 30 and received $12,700 cash in full paymen If an amount box does not require an entry, leave it blank