Illustrate the effects on the accounts and financial statements of the following transactions in the accounts of Kitchen Depot Company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables:

If no account or activity is affected, select "No effect" from the dropdown list and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts.

July 3. Received $18,000 on an account.

		Balance Sheet
		Assets			=	Liabilities	+	Stockholders' Equity
		Accounts payableCashNo effect	+	Accounts receivableAllowance for doubtful accountsNo effect	=	Accounts payableAllowance for doubtful accountsNo effect	+	Capital stockRetained earningsNo effect
	July. 3.	fill in the blank 5		fill in the blank 6		fill in the blank 7		fill in the blank 8
	Statement of Cash Flows					Income Statement
	FinancingInvestingOperatingNo effect	fill in the blank 10				Cost of merchandise soldNet incomeSalesNo effect		fill in the blank 12

July 3. Wrote off the remaining $77,560 owed on account as uncollectible.

		Balance Sheet
		Assets			=	Liabilities	+	Stockholders' Equity
		Accounts receivableAccounts payableNo effect	-	Allowance for doubtful accountsCashNo effect	=	Accounts payableAllowance for doubtful accountsNo effect	+	Capital stockRetained earningsNo effect
	July. 3.	fill in the blank 17		fill in the blank 18		fill in the blank 19		fill in the blank 20
	Statement of Cash Flows					Income Statement
	FinancingInvestingOperatingNo effect	fill in the blank 22				Cost of merchandise soldNet incomeSalesNo effect		fill in the blank 24

Oct. 8. Reinstated the account that had been written off on July 3. (Do not record the collection of cash yet.)

		Balance Sheet
		Assets			=	Liabilities	+	Stockholders' Equity
		Accounts receivableMerchandise inventoryNo effect	-	Allowance for doubtful accountsCashNo effect	=	Accounts payableAccounts receivableNo effect	+	Capital stockRetained earningsNo effect
	Oct. 8.	fill in the blank 29		fill in the blank 30		fill in the blank 31		fill in the blank 32
	Statement of Cash Flows					Income Statement
	FinancingInvestingOperatingNo effect	fill in the blank 34				Cost of merchandise soldNet incomeSalesNo effect		fill in the blank 36

Oct. 8 Received $77,560 cash in full payment for the reinstated account.

		Balance Sheet
		Assets			=	Liabilities	+	Stockholders' Equity
		Allowance for doubtful accountsCashNo effect	+	Accounts payableAccounts receivableNo effect	=	Allowance for doubtful accountsAccounts payableNo effect	+	Capital stockRetained earningsNo effect
	Oct. 8.	fill in the blank 41		fill in the blank 42		fill in the blank 43		fill in the blank 44
	Statement of Cash Flows					Income Statement
	FinancingInvestingOperatingNo effect	fill in the blank 46				Cost of merchandise soldNet incomeSalesNo effect		fill in the blank 48