3. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet given the facts in part 1c. (Do not round intermediate calculations.) Current assets $ Required information [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 $1,368, 100 $3,036,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $919, 908 debit $ 27,810 debit quired: repare the adjusting entry to record bad debts under each separate assumption. . Bad debts are estimated to be 4% of credit sales. . Bad debts are estimated to be 3% of total sales. ..An aging analysis estimates that 7% of year-end accounts receivable are uncollectible.