E8-9B. Credit Losses Based on Accounts Receivable Billy, 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: 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. Prepare the adjusting entry for estimated credit losses on December 31 . b. Prepare the joumal entry to write off the Matthews Company's account on the following April 10 , in the amount of $460