Using the allowance method of accounting for uncollectible receivables. Apr. 1 Sold merchandise on account to Jim Dobbs, $8,700. The cost of the merchandise is $5,000 June 10 Oct 11 Received payment for one-third of the receivable from Jim Dobbs and wrote off the remainder. Reinstated the account of Jim Dobbs and received cash in full payment Required: Journalize the above transactions. Refer to the Chart of Accounts for exact wording of account titles. PAGE 1 JOURNAL POST. REF. DEBIT CREDIT DATE Apr.1 8,700.00 DESCRIPTION Accounts Receivable-Jim Dobbs Sales 8,700.00 Cost of Merchandise Sold 5,000.00 5,000.00 Merchandise Inventory Cash Jun. 10 Allowance for Doubtful Accounts Accounts Receivable-Jim Dobbs Oct. 11 Accounts Receivable Jim Dobbs Allowance for Doubtful Accounts Cash Accounts Receivable-Jim Dobbs