Credit Losses Based on Accounts Receivable Hunter, 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 $98.000 Age Group 0.30 days past due 31-60 days past due 61-120 days past due 121-180 days past due 1% 28.000 2N 19,000 54 14,000 10% Over 180 days past due 12.000 $171,000 25% The company handles credit losses using the allowance method. The credit balance of the Allowance for Doubtful Accounts is $1,320 on December 31, before any adjustments a. Prepare the adjusting entry for estimated credit losses on December 31, b. Prepare the journal entry to write off the Rose Company's account on April 10 of the following year in the amount of $1,225 Date Dec 31 Date April 10 General Journal Description Debit Credit To record allowance for credit lusses General Journal Description Debit Credit To write off Rose Company's account