Entries for uncollectible receivables, using allowance miethod Dournalize the following transactions...
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Accounting
Entries for uncollectible receivables, using allowance miethod Dournalize the following transactions in the accounts of Zippy Interiors Company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivablex: May 24. Sold merchandise on account to Old Town Cafe, $12,400. The cost of goods sold was $8,900. Sept. 30. Received $3,100 from Old Town Cale and wrote off the remainder owed on the sale of May 24 as uncollectible. Dec, 7. Reinstated the account of Old Town Cafe that had been written off on September 30 and recoived $9,300 cash in full payment. If an ampunt box does not require an entry, leave it blank
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