Question: Create an Journal Entries for uncollectible receivables, using allowance method Apr. 2. Sold merchandise on account to Peking Palace Co., $37,940. The cost of the

Create an Journal Entries for uncollectible receivables, using allowance method

Apr. 2. Sold merchandise on account to Peking Palace Co., $37,940. The cost of the merchandise sold was $25,700.
June 9. Received $9,050 from Peking Palace Co. and wrote off the remainder owed on the sale of April 2 as uncollectible.
Oct. 31. Reinstated the account of Peking Palace Co. that had been written off on June 9 and received $28,890 cash in full payment.

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