(Solution) - Illustrate the effects on the accounts and financial -(2025 Original AI-Free Solution)

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Illustrate the effects on the accounts and financial statements of the following transactions in the accounts of Food Unlimited Company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables:
Mar. 31. Received $5,000 on an account and wrote off the remainder owed of $8,200 as uncollectible.
Sept. 3. Reinstated the account that had been written off on March 31 and received $8,200 cash in full payment.