1 Required information [The following information applies to the questions displayed below.] At December 31, 2018, Hawke Company reports the following results for its calendar year. Part 1 of 3 Cash sales Credit sales $1,504,330 3,729,000 0.66 points In addition, its unadjusted trial balance includes the following items. eBook References Accounts receivable Allowance for doubtful accounts $1,129,887 debit 23,510 debit Required: 1. Prepare the adjusting entry for this company to recognize bad debts under each of the following independent assumptions. a. Bad debts are estimated to be 3% of credit sales. (Round your final answers to the nearest whole dollar.) b. Bad debts are estimated to be 2% of total sales. c. An aging analysis estimates that 6% of year-end accounts receivable are uncollectible. (Round your final answers to the nearest whole dollar.) View transaction list View journal entry worksheet (x No Transaction General Journal Debit Credit 1 a. Bad debts expense Allowance for doubtful accounts 2 b. Bad debts expense Allowance for doubtful accounts 2. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31, 2018, balance sheet assuming that bad debts are estimated to be 3% of credit sales. Current assets: $ 0 3. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31, 2018, balance sheet assuming that an aging analysis estimates that 6% of year-end accounts receivable are uncollectible Current assets: $ 0