Question 6 Eddie Corporation uses the allowance method for estimating uncollectible accounts. Required: Prepare entries to record the following transactions: January 5 Sold merchandise to Tonya Holmes for $1,500, terms n/15. The merchandise sold cost $900. April 15 Received $500 from Tonya Holmes on account August 21 Wrote off as uncollectible the balance of the Tonya Holmes account when she declared bankruptcy. October 5 Received a cheque for $350 from Tonya Holmes. No further collections are expected