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Entries for Uncollectible Receivables, using Allowance Method May 1. Sold merchandise on account to Beijing Palace Co., $18,900. The cost of the merchandise sold was

Entries for Uncollectible Receivables, using Allowance Method May 1. Sold merchandise on account to Beijing Palace Co., $18,900. The cost of the merchandise sold was $11,200. Aug. 30. Received 58,000 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 510,900 cash in full payment

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