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Uncollectible Receivables, Using Allowance Method Illustrate the effects on the accounts and financial statements of the following transactions in the accounts of Kitchen Depot Company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables: If no account or activity is affected, select "No effect from the dropdown list and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts. July 3. Received $26,750 on an account. Balance Sheet Statement of Cash Flows Assets = Llabilities + Stockholders' Equity July. 3. Statement of Cash Flows Income Statement July 3. Wrote off the remaining $43,055 owed on account as uncollectible. Balance Sheet Statement of Cash Assets = Liabilities + Stockholders' Flows Equity July. 3. Statement of Cash Flows Income Statement Oct. B, Reinstated the account that had been written off on July 3. (Do not record the collection of cash yet.) Balance Sheet Statement of Cash Flows Assets = Liabilities + Stockholders' Equity Oct. 8. Statement of Cash Flows Income Statement Oct. 8 Received $43,055 cash in full payment for the reinstated account. Balance Sheet Statement of Cash Flows Assets Liabilities Stockholders' Equity + Oct. 8. Statement of Cash Flows Income Statement