At December 31, Hawke Company reports the following results for its calendar year. Cash sales Credit sales $1,626,400 $2,836,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $859,308 debit $ 29,300 debit Problem 7-2A (Algo) Part 1 Required: 1. Prepare the adjusting entry to record bad debts under each separate assumption a. Bad debts are estimated to be 3% of credit sales. b. Bad debts are estimated to be 2% of total sales. c. An aging analysis estimates that 6% of year-end accounts receivable are uncollectible. Adjusting entries (all dated December 31). (Do not round intermediate calculations.)