Instructions May 24 Sold merchandise on account to Old Town Cafe General Journal Journalize the transactions in the accounts of Zippy Interiors Company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables. General Journal Instructions $39,560. The cost of goods sold was $24,540. Sept. 30 Received $11,930 from Old Town Cafe and wrote off the remainder owed on the sale DATE DESCRIPTION of May 24 as uncollectible. 1 Dec. 7 Reinstated the account of 2 Old Town Cafe that had been written off on 3 September 30 and received 4 $27,630 cash in full 5 payment. 6 7 8 9 10 11 JOURNAL PAGE 1 ACCOUNTING EQUATION LIABILITIES EQUITY POST. REF. DEBIT CREDIT ASSETS