LO1, 2 BAB. Credit Losses Based on Accounts Receivable Maxwell, Inc. analyzed its accounts receivable bal- ances at December 31 and arrived at the aged balances listed below, along with the percentage that is estimated to be uncollectible: Probability of Noncollection Balance Age Group $100,000 ...18,000 121-180 days past due Over 180 days past due.. 7,000 2,000 $147,000 20 the company handles credit losses with the allowance method. The credit balance of the Allowance for Doubtful Accounts is $840 on December 31, before any adjustments. n Prepare the adjusting entry for estimated credit losses on December 31