intries for Uncollectible Receivables, using Allowance Method Journalize the following transactions in the accounts of Sedona Interiors Company, a Restaurant Supply Company that uses the allowance method of accounting for uncollectible receivables: May 1. Sold merchandise on account to Beijing Palace Co., $11,000. The cost of the merchandise sold was $7,900. Aug. 30. Received $2,600 from Beijing Palace Co. and wrote off the remainder owed on the sale of May 1 as uncollectible. Dec. 8. Reinstated the account of Beijing Palace Co. that had been written off on August 30 and received $8,400 cash in full payment. For a compound transaction, if an amount box does not require an entry, leave it blank. For a compound transaction, if an amount box does not require an entry, leave it blank. May 1-sale Accounts Receivable-Beijing Palace Co. May 1-cost Sales V Aug. 30 Cash Allowance for Doubtful Accounts Accounts Receivable-Beijing Palace Co. Dec. 8-reinstated Accounts Receivable-Beijing Palace Co. Allowance for Doubtful Accounts Dec. 8-collection Accounts Receivable-Beijing Palace Co. Feedhack