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 $14,875 on an account. July. 3. Statement of Cash Flows Balance Sheet Assets Liabilities + Stockholders' Equity July 3. Wrote off the remaining $42,720 owed on account as uncollectible. July. 3. Statement of Cash Flows Assets Income Statement Balance Sheet Liabilities + Stockholders' Equity Income Statement Oct. 8. Reinstated the account that had been written off on July 3. (Do not record the collection of cash yet.) Oct. 8. Assets Balance Sheet Liabilities + Stockholders' Equity Statement of Cash Flows Oct. 8 Received $42,720 cash in full payment for the reinstated account. Oct. 8. Statement of Cash Flows Assets Income Statement Balance Sheet Liabilities + Stockholders' Equity Income Statement