Journalize the following transactions: 1. Sold merchandise on account to Carnes Company $25,000. The cost of goods sold was $15,000. (Hint: There will be 2 entries). 2. Received $17,000 from Carnes Company related to item 1 above, and wrote- off the remainder owed on the sale from item 1 above as uncollectible. (Hint: Use the allowance method of accounting for uncollectible receivables for writing-off the amount uncollected). 3. Reinstated the account of Carnes Company that had been written-off in item 2 above, and received cash in the amount previously written-off in item 2. (Hint: Two entries will be required: (1) reinstate the receivable, and (2) record the cash receipt). Provide your answers in the Text Box below.