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May 24 Sept. 30 Sold merchandise on account to Old Town Cafe $36,010. The cost of the goods sold was $22,050 Received $11,500 from
May 24 Sept. 30 Sold merchandise on account to Old Town Cafe $36,010. The cost of the goods sold was $22,050 Received $11,500 from Old Town Cafe and wrote off the remainder owed on the sale of May 24 as uncollectible Dec 7 Reinstated the account of Old Town Cafe that had been written off on September 30 and received $24,510 cash in full payment. Journalize the above transactions in the accounts of Zippy Interiors Company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables. Refer to the Chart of Accounts for exact wording of account tities
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