On December 10, Smart Touch receives notification that APA Corp. from the November 21st transaction has gone out of business. Smart Touch estimates $4,900 allewance for uncellectible accounts and the bad debt expense, assuming that the company will not pay their balance owed Debilt On December 10, paid for inventory purchased on December 1 Debit Credit On December 28, received notification that the consignee sold he inventory that was delivered on