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 $16,125 on an account. Assets Balance Sheet Assets Liabilities Stockholders' Equity July 31 Statement of Cash Flows July 10. Wrote off the remaining $73,205 owed on account as uncollectible.. Assets July 10 Statement of Cash Flows - Income Statement Balance Sheet Assets Liabilities Stockholders' Equity Income Statement