Instructions May 1. Sold merchandise on account to Talwan Palace Co., $37,940. The cost of the merchandise sold was $25,700 Aug 30. Received $9,050 from Taiwan Palace Co. and wrote off the remainder owed on the sale of May 1 as uncollectible Reinstated the account of Talwan Palace Co that had been written off on August 30 and received $28,890 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 Ines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. a PAGES JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF DEBIT 1 CREDIT ASSITS LIABILITIES EQUIT 2 1 4 5 6 7 3 9 10 I 11