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try to answer before noon if possible Graham, Inc., analyzed its accounts receivable balances at December 31, and arrived at the aged balances listed below,

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Graham, 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 Age Group Balance Noncollection 0-30 days past due $160,000 1% 31-60 days past due 24,000 39 61-120 days past due 26,000 6% 121-180 days past due 13,000 Over 180 days past due 8,000 20% $231,000 10% The company handles credit losses using the allowance method. The credit balance of the Allowance for Doubtful Accounts is $1,440 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 Matthews Company's account on April 10 of the following year in the amount of $1,080 a. . General Journal Description Date Dec.31 Debit To record allowance for credit losses. b. Ganarlournal

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