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 uncollectible receivables: May 24 Sold merchandise on account to Old Town Cafe, $19,400. The cost of goods sold was $14,000. Sept. 30 Received $5,400 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 $14,000 cash in full payment. If an amount box does not require an entry, leave it blank. May 24-sale Accounts Receivable-Old Town Cafe 19,400 Sales 19,400 May 24-cost Cost of Goods Sold 14,000 Inventory 14,000 Sept. 30 Cash 5,400 Allowance for Doubtful Accounts ! HII II II Accounts Receivable-Old Town Cafe 33,400 Il 1 1 1 Dec. 7-reinstate Dec. 7-collection