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May24Sold merchandise on account to Old Town Cafe $39,560. The cost of the goods sold was $24,540.Sept.30Received $11,930 from Old Town Cafe and wrote off

May24Sold merchandise on account to Old Town Cafe $39,560. The cost of the goods sold was $24,540.Sept.30Received $11,930 from Old Town Cafe and wrote off the remainder owed on the sale of May 24 as uncollectible.Dec.7Reinstated the account of Old Town Cafe that had been written off on September 30 and received $27,630 cash in full payment.

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