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= My Subscriptions Alert Maxell, Inc, analyzed its accounts receivable balances at December 31, and arrived at the aged balances listed below, along with the percentage that is estimated uncollectible: 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 Probability of Balance Noncollection $170.000 25,000 27,000 14,000 9000 $245,000 The company handles credit losses using the allowance method. The credit balance of the Allowance for Doubtful Accounts is $1,540 on December 31, before an adjustments a. Prepare the adjusting entry for estimated credit losses on December 31. b. Prepare the journal entry to write off the Porter Company's account on May 12 of the following year in the amount of $1,180 Debit Credit General Journal Date Description Dec 31 Bad Debts Expense Allowance for Doubtful Accounts To record allowance for credit losses 5.730 Debit Credit General Journal Date Description May 12 Allowance for Doubtful Accounts Accounts Receivable - Porter Company