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 May 24 Sold merchandise on account to Old Town Cafe $19,800. The cost of goods sold was $14,300 Sept. 30 Received $5,100 from Oid 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 $14,700 cash in full payment. For a compound transaction, if an amount box does not require an entry, leave it blank May 24-sale May 24-cost Sept. 30 Dec.7renstated