Allowance Saved 11Problem 9-2A Estimat Problem 9-2A Estlmating and reporting bed debts LO P2, P3 [The following information applies to the questions displayed below/ At December 31, 2017, Hawke Company reports the following results for its calendar year. Part 1 of 3 7.69 polnts Cash sales $1,905,000 Credit sales 5, 682,000 In addition, its unadjusted trial balance includes the following items. eBook Print References Accounts receivable Allowance for doubtful accounts $1,270, 100 debit 16,580 debit Problem 9-2A Part 1 Required: 1. Prepare the adjusting entry for this company to recognize bad debts under each of the following independent assumptions. a. b. c. Bad debts are estimated to be 1.5% of credit sales. Bad debts are estimated to be 1% of total sales. An aging analysis estimates that 5% of year-end accounts receivable are uncollectible. Next>