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 Cole, $17.700. The cost of goods sold was $12.700. Sept. 30 Received $3,900 from Old Town Cafe and wrote off the remainder owed on the sale of May 24 as uncollectible. Dec.) Reinstated the account of Old Town Cafe that had been written off on September 30 and recewed $13,000 cash in full payment. If an amount box does not require an entry leave it bank, May 24-sale Accounts Receivable Old Town Cafe Sales May 24-cost Cast of Goods Sold Inventory Sept. 30 Cash Allowance for Doubtful Accounts Accounts Receivable-OM Town Cafe II II 111 II II Il 10 III II II Dec. Pristate Accounts Receivable Old Town Cafe Allowance for Doubtful Accounts Dec. 7-collection Cash Accounts Receivable-Old Town Cafe