De 23 Answer saved Marked ore 12.0 P Facuestion Credit Losses Based on Accounts Receivable Aging Maxwell 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: Considered Ace Group Balance Uncollectible 0:30 days put due $300,000 31-60 days at de 54.000 34 61.120 days past due 60.000 121-180 day past due 21,000 104 Over 10 days paste 6.000 20W 1445.000 The company handles credit losses using the allowance method The credit balance of the Allowance for Doubtful Accounts is $2.520 on December 31, before any adjustments. . Determine the amount of the adjustment for estimated credit losses on December 31 $0 b. Determine the financial statement effect of a write off of Porter Company's account on the following May 12, in the amount of 1,440 Ut negative signs with answers, when appropriate a transaction increases and decreases the same balance sheet memory, enter the increase amount in the first row and the decrease amount directly helow On the second rom. Balance Sheet Income Statement Sockholdere Assets Raven Epe - Netivame