1. Credit Losses Based on Accounts Recelvable Graham, Inc., analyzed its accounts receivable balances at December 31 and arrived at the aged balances listed below, along with the percentage that is estimated to be uncollectible: Probability of Balance Noncollection Age Group 0-30 days past due $270,000 31-60 days past due60,000 61-120 days past duc 33,000 121-180 days past duc 18,000 Over 180 days past due 3% 6% 10% 25% S393,000 The company handles credit losses using the allowance method. The credit balance of the Allowance for Doubtful Accounts is $1,560 on December 31, before any adjustments a. b. Prepare the adjusting entry for estimated credit losses on December 31 Calculate the net realizable value of accounts receivable on December 31 c. Prepare the jounal entry to write off the Matthews Company's account on the following Apnil 10, in the amount of $440 Date Account Debit Credit Qa Qc The net realizable value of accounts receivable on December 31 is