Required information Problems 7-2A (Algo) Estimating and reporting bad debts LO P2, P3 [The following information...

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Required information Problems 7-2A (Algo) Estimating and reporting bad debts LO P2, P3 [The following information applies to the questions displayed below.] At December 31, Hawke Company reports the following results for its calendar year. Cash sales Credit sales $ 340,000 $ 850,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $ 765,000 debit $ 6,100 debit Problems 7-2A (Algo) Part 3 3. An aging analysis estimates that 4% of year-end accounts receivable are uncollectible. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet. > Answer is complete but not entirely correct. Current assets: Accounts receivable $ 765,000 Less: Allowance for doubtful accounts 36,700 $ 728,300 Required information Problems 7-2A (Algo) Estimating and reporting bad debts LO P2, P3 [The following information applies to the questions displayed below.] At December 31, Hawke Company reports the following results for its calendar year. Cash sales Credit sales $ 340,000 $ 850,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $ 765,000 debit $ 6,100 debit Problems 7-2A (Algo) Part 3 3. An aging analysis estimates that 4% of year-end accounts receivable are uncollectible. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet. > Answer is complete but not entirely correct. Current assets: Accounts receivable $ 765,000 Less: Allowance for doubtful accounts 36,700 $ 728,300