At December 31, Hawke Company reports the following results for its calendar year. Cash sales Credit sales $1,658,740 $3,644,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable $1,104,132 debit Allowance for doubtful accounts $ 11,490 debit Problem 7-2A Part 1 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.) Problem 7-2A Part 2 2. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet given the facts in part 1a Current assets: 0 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 0