ebook Show Me How Video Printer 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: Il 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 2. Roceived $16,125 on an account Financial Statement Effects Balance Sheet Assets Liabilities Stockholders' Equity L- July. 3. Statement of Cash Flows Income Statement July 3. Wrote off the remaining $80,240 owed on account as uncollectible. Financial Statement Effects 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.) Financial Statement Elects Balance Sheet Assets Liabilities Stockholders' Equity Oct. 8. Statement of Cash Flows Income Statement Oct 8 Received $80,240 cash in full payment for the reinstated account Financial Statement Effects Balance Sheet Assets Liabilities + Stockholders' Equity OCH B. Statement of Cash Flows Income Statement