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 receivables: Aug. 30 May 1. Sold merchandise on account to Taiwan Palace Co., $25,800. The cost of the merchandise sold was $15,300. Received $10,900 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 $14,900 cash in full payment. If an amount box does not require an entry, leave it blank. May 1-sale May 1-cost Aug. 30 II II III II II II III II II Dec. 8-reinstate Dec. 8-collection Check My Work 26 S ? ? 8 etv AE F3 OOO F4 FS F6 F7 F8 T. $ 4 % 5 & 7 6 8 9 C