Entries for Uncollectible Receivables, using Allowance Method Journalize the following transactions in the accounts of Sedona Interiors Company, a Restaurant Supply Company that uses the allowance method of accounting for uncollectible receivables: May 1. Sold merchandise on account to Beijing Palace Co., $12,000. The cost of the merchandise sold was $8,600. Aug. 30. Recelved $3,500 from Beijing Palace Co. and wrote off the remainder owed on the sale of May 1 as uncollectible. Dec. 8. Reinstated the account of Beijing Palace Co. that had been written off on August 30 and received $8,500 cash in full payment. For a compound transaction, if an amount box does not require an entry, leave it blank. For a compound transaction, if an amount box does not require an entrv. leave it hlank Chackic Wy Work Entries for Uncollectible Receivables, using Allowance Method Journalize the following transactions in the accounts of Sedona Interiors Company, a Restaurant Supply Company that uses the allowance method of accounting for uncollectible receivables: May 1. Sold merchandise on account to Beijing Palace Co., $12,000. The cost of the merchandise sold was $8,600. Aug. 30. Recelved $3,500 from Beijing Palace Co. and wrote off the remainder owed on the sale of May 1 as uncollectible. Dec. 8. Reinstated the account of Beijing Palace Co. that had been written off on August 30 and received $8,500 cash in full payment. For a compound transaction, if an amount box does not require an entry, leave it blank. For a compound transaction, if an amount box does not require an entrv. leave it hlank Chackic Wy Work