2 prt 1 of 3 Required information Problem 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. $ 280,000 Ints Shipped Cash sales Credit sales $ 700,000 In addition, its unadjusted trial balance includes the following items. eBook Accounts receivable Allowance for doubtful accounts 3.630,000 debit $ 5.000 debit Print Problem 7-2A (Algo) Part 1 Deferences Required: 1. Prepare the adjusting entry to record bad debts under each separate assumption a. Bad debts are estimated to be 4% of credit sales. b. Bad debts are estimated to be 3% of total sales c. An aging analysis estimates that 4% of year-end accounts receivable are uncollectible Adjusting entries (all dated December 31). View transaction lit Journal entry worksheet