EX 8.4 Entries for uncollectible receivables, using allowance method Obj. 4 Journalize the following transactions in the accounts of Zippy Interiors Company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables: May 24. Sold merchandise on account to Old Town Cafe, $24.450. The cost of goods sold was $14,500. Sept. 30. Received $9,000 from Old Town Cafe and wrote off the remainder owed on the sale of May 24 as uncollectible Dec 7. Reinstated the account of Old Town Cafe that had been written off on September 30 and received $15,450 cash in full payment EX 8-11 Estimating doubtful accounts Obj. 4 Outlaw Bike Co. is a wholesaler of motorcycle supplies. An aging of the company's accounts receivable on December 31 and a historical analysis of the percentage of uncollectible accounts in each age category are as follows: S ME HIW Percent Uncollectible Age Class Not past due 1-30 days past due 31-60 days past due 61-90 days past due 91-180 days past due Over 180 days past due Balance $ 892,000 285,000 101,000 63.000 43,100 17,700 $1.401,800 Estimate what the proper balance of the allowance for doubtful accounts should be as of December 31