Instructions Chart of Accounts Journal Instructions May Aug 30. Sold merchandise on account to Taiwan Palace Co. 543,440. The cost of the merchandise sold was S22,060. Received 89,980 from Taiwan Palace Co. and wrote off the remainder owed on the sale of May 1 as uncollectible Reinstated the account of Taiwan Palace Co, that had been written off on August 30 and received $33,460 cash in full payment Dec. 8 Required: Journalize the above transactions in the accounts of Arizona Interiors Company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables. Refer to the chart of accounts for the exact wording of the account titles. CNOW Journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW joumals will automatically indent a credit entry when a credit amount is entered