ng.com/activity/orin On December 7, Smart Touch delivers equipment to a small retailer on consignment. The cost of the equipment was $1,450 and the combined retail selling price is $2,100. If the retail shop sells the equipment, S mart Touch will pay 20% commission. Both companies use a perpetual inventory method. Debit Credit Accounts Date On December 10, Smart Touch receives notification that APA Corp. from the November 21st transaction has gone out of business. Smart Touch estimates $4,400 allowance for uncollectible accounts and the bad debt expense, assuming that the company will not pay their balance owed. Date Accounts Debit Credit