Discount Mart utilzes the allowance method of accounting for uncollectible receivables. On December 12 the company receives a 5540 check from Chad Thomas in settlement of Thomas's 51,050 outstanding accounts recelvaste. OVe to Thomass failing hes th he is closing his company and is expecting to make no further poyments to Discount Mart, Journalize this declaration. If an amount box does not require an entry, leave it blank. Dec. 12