Entries for uncollectiblereceivables, usingallowance method

May24Sold merchandise on account to Old Town Cafe $18,450. The cost of goods sold was $11,000.Sept.30Received $6,000 from Old Town Cafe and wrote off the remainder owed on the sale of May 24 as uncollectible.Dec.7Reinstated the account of Old Town Cafe that had been written off on September 30 and received $12,450 cash in full payment.Journalize the above transactions in the accounts of Zippy Interiors Company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables. Refer to the Chart of Accounts for exact wording of account titles.

journalize the transactions in the accounts of Zippy Interiors Company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables. Refer to the Chart of Accounts for exact wording of account titles.