At December 31, Hawke Company reports the following results for its calendar year. Cash sales Credit sales $1,978,360 $3,249,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $984,447 debit $ 24,300 debit 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 7% of year-end accounts receivable are uncollectible. Adjusting entries (all dated December 31). (Do not round intermediate calculations.) View transaction list Journal entry worksheet 1 2 3 Bad debts are estimated to be 4% of credit sales. Note: Enter debits before credits. Transaction General Journal a. Debit Credit