Allowance Method Journalize the following transactions, using the allowance method of accounting for uncollectible receivables: Oct. 2. Received $3,360 from William Pruitt and wrote off the remainder owed of $7,020 as uncollectible. If an amount box does not require an entry, leave it blank. Oct. 2 dropdown Dec. 20. Reinstated the account of William Pruitt and received $7,020 cash in full payment. If an amount box does not require an entry, leave it blank. Reinstate Collection