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 $27,375 on an account. Balance Sheet Assets Liabilities + Stockholders' Equity + + July. 3. Statement of Cash Flows Income Statement July 3. Wrote off the remaining $87,275 owed on account as uncollectible. Balance Sheet Assets Liabilities + Stockholders' Equity + July. 3. Statement of Cash Flows Income Statement Oct. 8. Reinstated the account that had been written off on July 3. (Do not record the collection of cash yet.) Balance Sheet Stockholders' Assets Liabilities Equity + + Oct. 8. Statement of Cash Flows Income Statement Oct. 8 Received $87,275 cash in full payment for the reinstated account. Balance Sheet Assets Liabilities + Stockholders' Equity + + Oct. 8. Statement of Cash Flows Income Statement