At December 31, Hawke Company reports the following results for its calendar year.

Cash sales	$	1,308,780
Credit sales	$	2,946,000

In addition, its unadjusted trial balance includes the following items.

Accounts receivable	$	892,638	debit
Allowance for doubtful accounts	$	28,840	debit

Required: 1. Prepare the adjusting entry to record bad debts under each separate assumption.

1. Bad debts are estimated to be 3% of credit sales.
2. Bad debts are estimated to be 2% of total sales.
3. An aging analysis estimates that 6% of year-end accounts receivable are uncollectible.

Adjusting entries (all dated December 31).