Question: Allowance Method Journalize the following transactions, using the allowance method of accounting for uncollectible receivables: Oct. 2. Received $2,660 from Keith MacPhearson and wrote

Allowance Method Journalize the following transactions, using the allowance method of accounting for uncollectible receivables: Oct. 2. Received $2,660 from Keith MacPhearson and wrote off the remainder owed of $6,540 as uncollectible. If an amount box does not require an entry, leave it blank. Oct. 2 Dec. 20. Reinstated the account of Keith MacPhearson and received $6,540 cash in full payment. If an amount box does not require an entry, leave it blank. Reinstate Collection

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