Entries for Uncollectible Receivables, using Allowance Method Journalize the following transactions in the accounts of Zippy Interiors Company, a restaurant supply company that uses the lowance method of munting for uncoctite recevable May 24 Sold merchandise on account to Old Town Cate $18,450. The cost of goods sold was $11,000 Sept. 30 Received $6,000 from Old Town Cafe and wrote off the remainder owed on the sale of May 24 as uncollectie Dec. 7 Reinstated the account of Old Town Cate that had been written off on September 30 and received $12.450 cool in full payment For a compound transaction, if an amount box does not require an entry, leave it blank May 24 sale May 24-cost Sept. 30 I i II Dec, 7.reinstate Dec. 7-collection