Exercise 7-9 Writing off receivables LO P2 Daley Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging of receivables analysis Days Past Due 1 to 30 31 to 60 61 to 90 Ove Accounts receivable Percent uncollectible $570, 000 $396,000 $90,000 $36,000 $18,000 $30,000 1% 2% 5% 78 10% a. On February 1 of the next period, the company determined that $6,800 in customer accounts was uncollectible, specifically, $900 for Oakley Co and $5,900 for Brookes Co. Prepare the journal entry to write off those two accounts b. On June 5 of that next period, the company unexpectedly received a $900 payment on a customer account, Oakley Company, that had previously been written off in part a Prepare the entries necessary to reinstate the account and to record the cash received View transaction list