Uncollectible Receivables, Using Allowance Method Illustrate the effects on the accounts and financial statements of the following transactions in the accounts of Kitchen Depot Company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables: If no account or activity is affected, select "No effect" from the dropdown list and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts. July 3. Received $16,750 on an account. Balance Sheet Assets Liabilities Stockholders' Equity Cash Accounts receivable Allowance for doubtful accounts X Retained earnings X + July. 3. 16,750 x 16,750 X Statement of Cash Flows Income Statement No effect X No effect AC Addin nrollertible