Entries for Uncollectible Receivables, using Allowance Method May 1. Sold merchandise on account to Taiwan Palace Co., $11,300. The cost of the merchandise sold was $8,100. Aug. 30. Received \$2,700 from Taiwan Palace Co. and wrote off the remainder owed on the sale of May 1 as uncollectible. Dec. 8. Reinstated the account of Taiwan Palace Co. that had been written off on August 30 and received $8,600 cash in full payment. If an amnint hov dnoc not renuira an entry laave it hlank