Entries for Uncollectible Receivables, using Allowance Method Journalize the following transactions in the accounts of Zippy Interiors Company, a restaurant supply company that uses the allowance method of accounting for unce May 24 Sold merchandise on account to Old Town Cafe $13,600. The cost of goods sold was $9,800. Sept. 30 Received $3,500 from Old Town Cafe and wrote off the remainder owed on the sale of May 24 as uncollectible Dec. 7 Reinstated the account of Old Town Cafe that had been written off on September 30 and received $10,100 cash in full payment. LETAL... For a compound transaction, if an amount box does not require an entry, leave it blank. May 24-sale Accounts Receivable-Old Town Cafe 24.450 HEETAL.... 24.450 SHEETAL... May 24-cost Cost of Goods Sold Inventory 14,500 KSHEETAL.... NIKSHEETA... Cash Sept. 30 Allowance for Doubtful Accounts Receivable-Old Town 24.450 GO Dec. 7-instated Accounts Receivable-Old Town Allowance for Doubt Dec. 7-collection Check My Work : 412 items Score: 0.0% Type here to search