D 23 Not yet answered Marked out of 12.00 Prag question Credit Losses Based on Accounts Receivable Maxell, 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 uncollectible: Age Group 0-30 days past due 31-60 days past due 61.120 days past due 121-180 days past due Over 180 days past due Probability of Balance Noncollection $170,000 25,000 27,000 14,000 10W 9,000 20 $245.000 The company handles credit losses using the allowance method. The credit balance of the Allowance for Doubtful Accounts is $1,540 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 Porter Company's account on May 12 of the following year in the amount of $1,180 ILI UTE JUUNI y I write of the Porter Company's account on May 12 of the following year in the amount of $1,180 Date General Journal Description Debit Credit Dec 31 0 Bad Debts Expense Allowance for Doubtful Accounts Accounts Receivable - Porter Company Date General Journal Description Debit Credit 0 0 0 To write off Porter Company's account. Please answer all parts of the