che 4. Credit Losses Based on Accounts Receivable: Rock Company, who handles its credit losses with the allowance method, analyzed its accounts receivable balance at December 31, 2013 and arrived at the aged balances listed below, along with the percentage that is estimated to be uncollectible: Age Group Current........ 1-30 days past due.. 31-60 days past due. Over 60 days past due... Estimated Balance Loss % $ 100,000 2.0% 2000 $ 30,000 4.0% 1,200 $ 10,000 15.0% 1500 $ 10,000 25.0% 2500 $ 150,000 1,200 'Bad Debt Required: a. Prepare the adjusting entry for estimated credit losses on December 31, 2013 b. Prepare the journal entry to write off ABC Company's account on March 31, 2014 in the amount of $1,000. 7,200 ANSWER a. Bad Debt Expense Allowance for Doubtful Acc. 7200 ANSWER b