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Journalize the following transactions, using the allowance method of accounting for uncollectible receivables: Oct. 2. Received $3,470 from William Pruitt and wrote off the remainder

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Journalize the following transactions, using the allowance method of accounting for uncollectible receivables: Oct. 2. Received $3,470 from William Pruitt and wrote off the remainder owed of $5,970 as uncollectible. If an amount box does not require an entry, leave it blank. Oct. 2 Dec. 20. Reinstated the account of William Pruitt and received $5,970 cash in full payment. Renate Collection

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