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, $24,450 The cost of goods sold was $14,500 Sept 30 Received $9,000 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 $15,450 cash in full payment If an amount box does not require an entry, leave it blank May 24 sale Accounts Payable Old Town CafeAccounts Receivable Old Town CafeAllowance for Doubtful AccountsCashInventorySalesAccounts Receivable Old Town Cafe Accounts Receivable Old Town Cafe Accounts Receivable Old Town Cafe Accounts Payable Old Town CafeAccounts Receivable Old Town CafeAllowance for Doubtful AccountsBad Debt ExpenseCashSalesSales Sales Sales May 24 cost Accounts Payable Old Town CafeAllowance for Doubtful AccountsCashCost of Goods SoldInventorySalesCost of Goods Sold Cost of Goods Sold Cost of Goods Sold Accounts Payable Old Town CafeAccounts Receivable Old Town CafeAllowance for Doubtful AccountsCashCost of Goods SoldInventoryInventory Inventory Inventory Sept 30 Accounts Payable Old Town CafeAccounts Receivable Old Town CafeBad Debt ExpenseCashCost of Goods SoldInventoryCash Cash Cash Accounts Payable Old Town CafeAccounts Receivable Old Town CafeAllowance for Doubtful AccountsBad Debt ExpenseCost of Goods SoldSalesAllowance for Doubtful Accounts Allowance for Doubtful Accounts Allowance for Doubtful Accounts Accounts Payable Old Town CafeAccounts Receivable Old Town CafeAllowance for Doubtful AccountsBad Debt ExpenseCashCost of Goods SoldAccounts Receivable Old Town Cafe Accounts Receivable Old Town Cafe Accounts Receivable Old Town Cafe Dec 7 reinstate Accounts Payable Old Town CafeAccounts Receivable Old Town CafeAllowance for Doubtful AccountsBad Debt ExpenseCashCost of Goods SoldAccounts Receivable Old Town Cafe Accounts Receivable Old Town Cafe Accounts Receivable Old Town Cafe Accounts Payable Old Town CafeAccounts Receivable Old Town CafeAllowance for Doubtful AccountsBad Debt ExpenseCashCost of Goods SoldAllowance for Doubtful Accounts Allowance for Doubtful Accounts Allowance for Doubtful Accounts Dec 7 collection Accounts Payable Old Town CafeAccounts Receivable Old Town CafeAllowance for Doubtful AccountsBad Debt ExpenseCashSalesCash Cash Cash Accounts Payable Old Town CafeAccounts Receivable Old Town CafeAllowance for Doubtful AccountsBad Debt ExpenseCashInventoryAccounts Receivable Old Town Cafe Accounts Receivable Old Town Cafe Accounts Receivable Old Town Cafe

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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

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, $24,450. The cost of goods sold was $14,500.
Sept. 30	Received $9,000 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 $15,450 cash in full payment.

If an amount box does not require an entry, leave it blank.

May 24-sale	Accounts Payable-Old Town CafeAccounts Receivable-Old Town CafeAllowance for Doubtful AccountsCashInventorySalesAccounts Receivable-Old Town Cafe	Accounts Receivable-Old Town Cafe	Accounts Receivable-Old Town Cafe
	Accounts Payable-Old Town CafeAccounts Receivable-Old Town CafeAllowance for Doubtful AccountsBad Debt ExpenseCashSalesSales	Sales	Sales
May 24-cost	Accounts Payable-Old Town CafeAllowance for Doubtful AccountsCashCost of Goods SoldInventorySalesCost of Goods Sold	Cost of Goods Sold	Cost of Goods Sold
	Accounts Payable-Old Town CafeAccounts Receivable-Old Town CafeAllowance for Doubtful AccountsCashCost of Goods SoldInventoryInventory	Inventory	Inventory
Sept. 30	Accounts Payable-Old Town CafeAccounts Receivable-Old Town CafeBad Debt ExpenseCashCost of Goods SoldInventoryCash	Cash	Cash
	Accounts Payable-Old Town CafeAccounts Receivable-Old Town CafeAllowance for Doubtful AccountsBad Debt ExpenseCost of Goods SoldSalesAllowance for Doubtful Accounts	Allowance for Doubtful Accounts	Allowance for Doubtful Accounts
	Accounts Payable-Old Town CafeAccounts Receivable-Old Town CafeAllowance for Doubtful AccountsBad Debt ExpenseCashCost of Goods SoldAccounts Receivable-Old Town Cafe	Accounts Receivable-Old Town Cafe	Accounts Receivable-Old Town Cafe
Dec. 7-reinstate	Accounts Payable-Old Town CafeAccounts Receivable-Old Town CafeAllowance for Doubtful AccountsBad Debt ExpenseCashCost of Goods SoldAccounts Receivable-Old Town Cafe	Accounts Receivable-Old Town Cafe	Accounts Receivable-Old Town Cafe
	Accounts Payable-Old Town CafeAccounts Receivable-Old Town CafeAllowance for Doubtful AccountsBad Debt ExpenseCashCost of Goods SoldAllowance for Doubtful Accounts	Allowance for Doubtful Accounts	Allowance for Doubtful Accounts
Dec. 7-collection	Accounts Payable-Old Town CafeAccounts Receivable-Old Town CafeAllowance for Doubtful AccountsBad Debt ExpenseCashSalesCash	Cash	Cash
	Accounts Payable-Old Town CafeAccounts Receivable-Old Town CafeAllowance for Doubtful AccountsBad Debt ExpenseCashInventoryAccounts Receivable-Old Town Cafe	Accounts Receivable-Old Town Cafe	Accounts Receivable-Old Town Cafe