Vermont Company offers credit terms to its customers and they use the allowance method to estimate uncollectible accounts. The allowance for uncollectible accounts had a debit balance of $12,000 at the beginning of 2019. At the end of 2019, accounts receivable totaled $600,000 before adjusting following items: (a) $8,000 in receivables were written off during the year as uncollectible. And (b) $1,500 in cash was received in December from a customer whose account previously had been written off. The company estimates bad debts by applying a percentage of 5% to accounts receivable (after adjustments) at the end of the year. Prepare journal entries to record the collection of $1,500 for previously written off receivables. First Journal entry Debit [Select) Credit [Select] > In the amount of $1,500. Second Journal Entry Debit [Select]