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, $$16,000.$ The cost of goods sold was $$11,500.$ Sept. $30$ Received $$4,300$ from Old Town Cafe and wrote off the remainder owed on the sale of May $24$ as uncollectible. Dec. $7$ Reinstated the account