Entries for Uncollectible Receivables, using Allowance Method Journalize the following transactions in the accounts of Sedona Interiors Company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables. May 1. Sold merchandise on account to Beijing Palace Co., $14,100. The cost of the merchandise sold was $10,200. Aug. 30. Received $3,200 from Beijing Palace Co. and wrote off the remainder owed on the sale of May 1 as uncollectible. Reinstated the account of Beijing Palace Co. that had been written off on August 30 and received $10,900 cash in full payment. Dec. 8. For a compound transaction, if an amount box does not require an entry, leave it blank. May 1-sale May 1-cost Aug. 30 | IIII Dec. 8-reinstated Dec. 8-collection Aging of Receivables Schedule The accounts receivable clerk for Kirchhoff Industries prepared the following partially completed aging of receivables schedule as of the end of business on November 30: Not Days Past Due Past Over Customer Balance Due 1-30 31-60 61-90 90 Academy Industries Inc. 4,900 4,900 Ascent Company 4,800 4,800 Zoot Company 9,200 9,200 Subtotals 750,900 453,600 165,200 72,100 37,500 22,500 The following accounts were unintentionally omitted from the aging schedule and not included in the subtotals above: Customer Balance Due Date Conover Industries $10,500 July 11 Keystone Company 7,500 September 20 Moxie Creek Inc. 15,000 October 16 Rainbow Company 9,000 November 4 Swanson Company 20,300 December 21 a. Determine the number of days past due for each of the preceding accounts as of November 30. If an account is not past due, enter 0. Customer Due Date Number of Days Past Due Conover Industries July 11 days Keystone Company September 20 days Moxie Creek Inc. October 16 days Rainbow Company November 4 days Swanson Company December 21 days b. Complete the aging-of-receivables schedule by adding the omitted accounts to the bottom of the schedule and updating the totals. If an amount box does not require an entry, leave it blank. Kirchhoff Industries Aging of Receivables Schedule November 30 Days Past Due 1-30 Days Past Due 31-60 Not Past Due Days Past Due 61-90 Days Past Due Over 90 Customer Balance Academy Industries Inc. $4,900 $4,900 $ Ascent Company 4,800 4,800 Zoot Company 9,200 9,200 Subtotals 750,900 453,600 165,200 72,100 37,500 22,500 Conover Industries Keystone Company Moxie Creek Inc. Rainbow Company Swanson Company Totals $ $