Entries for Uncollectible Receivables, using Allowance Method Journalize the following transactions in the accounts of Sedona Interiors Company, a Restaurant Supoly Company that uses the allowance method of accounting for collectible recevables: May 1 Sold merchandise on account to Beijing Palace Co., $15.200. The cost of the merchandise sold was $10,900 Aug. 30. Received $4,100 from Beijing Palace Co. and wrote off the remainder owed on the sale of May 1 as uncollectible. Dec. 8. Reinstated the account of Beijing Palace Co that had been written off on August 30 and received 511.100 cash in full payment. For a compound transaction, an amount box does not require an entry leave it blanc May I sale May 1-cost 10 Aug. 30. Received $1,100 from Beijing Palace Co. and wrote off the remainder owed on the sale of May 1 as uncollectible Dec. 8. Reinstated the account of Beijing Palace Co, that had been written off on August 30 and received $11,100 cash in full payment For a compound transaction, if an amount box does not require an entry, leave it blank May 1-sale May 1-cost Aug. 30 Dec. 8-reinstated DEC. B-collection