Entries for Uncollectible Receivables, using Allowance Method Journalize the following transactions in the accounts of Arizona Interiors Company, a Restaurant Supply Company that uses the allowance method of accounting for uncollectible receivables: May 1. Sold merchandise on account to Taiwan Palace Co., $14,400. The cost of the merchandise sold was $10,400. Aug. 30. Received $2,900 from Taiwan Palace Co. and wrote off the remainder owed on the sale of May 1 as uncollectible. Dec. 8. Reinstated the account of Taiwan Palace Co. that had been written off on August 30 and received $11,500 cash in full payment. If an amount box does not require an entrv, leave it blank
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