Complete the following problems using a Word or Excel document and upload in Canvas. Show all work. Chapter 8: Receivables Marsden Company 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: Estimated Uncollectible Uncollectible Percentage 1% 2% 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 Total Balance $100,000 18,000 20,000 7,000 2,000 $147,000 6% 11% 20% The company handles credit losses with the allowance method. The credit balance in the Allowance for Doubtful Accounts is $840 on December 31, before any adjustments. a. Prepare the adjusting entry for estimated uncollectible accounts on December 31. b. Prepare the journal entry to write off Porter Company's account on the following May 12, in the amount of $680. Date Description Post Ref Debit Credit