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Entries for uncollectible receivables, using allowance method Chart of Accounts Journal Instructions May 1. Sold merchandise on account to Beijing Palace Co, $18,900. The cost of the merchandise sold was $11,200 Aug. 30. Received $8,000 from Beijing Palace Co. and wrote off the remainder owed on the sale of May 1 as uncollectible. Dec. 8. Reinstated the account of Beijing Palace Co. that had been written off on August 30 and received $10,900 cash in full payment. Required: Journalize the above transactions in the accounts of Sedona Interiors Corpany, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables. Refer to the Chart of Accounts for exact wording of account titles Instructions Chart of Accounts Journal Journal PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION ASSETS LIABILITIES EQUITY POST. REF CREDIT DEBIT 10