At December 31, 2015, Haleem Company reports the following results for its calendar year. Cash ales Credit sales $ 1,577,040 2,890,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $875,670 debit 28,680 debit Required: Prepare the adjusting entry for this company to recognize bad debts under each of the followir independent assumptions. a. Bad debts are estimated to be 2% of credit sales. b. Bad debts are estimated to be 1% of total sales. c. An aging analysis estimates that 5% of year-end accounts receivable are uncollectible