At December 31, Hawke Company reports the following results for its calendar year. Cash sales Credit sales $ 160,000 $ 400,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $ 360,000 debit $ 2,900 debit Required: . 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 4% of year-end accounts receivable are uncollectible. djusting entries (all dated December 31). View transaction list Journal entry worksheet Bad debts are estimated to be 4% of credit sales. Note: Enter debits before credits. General Journal Debit Credit Date December 31 At December 31, Hawke Company reports the following results for its calendar year. Cash sales Credit sales $ 160,000 $ 400,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $ 360,000 debit $ 2,900 debit Required: . 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 4% of year-end accounts receivable are uncollectible. djusting entries (all dated December 31). View transaction list Journal entry worksheet Bad debts are estimated to be 3% of total sales. Note: Enter debits before credits. General Journal Debit Credit Date December 31 At December 31, Hawke Company reports the following results for its calendar year. Cash sales Credit sales $ 160,000 $ 400,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $ 360,000 debit $ 2,900 debit Required: . 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 4% of year-end accounts receivable are uncollectible. djusting entries (all dated December 31). View transaction list Journal entry worksheet > An aging analysis estimates that 4% of year-end accounts receivable are uncollectible. Note: Enter debits before credits. General Journal Debit Credit Date December 31 ! Required information (The following information applies to the questions displayed below.) At December 31, Hawke Company reports the following results for its calendar year. Cash sales $ 160,000 Credit sales $ 400,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $ 360,000 debit $ 2,900 debit 2. Bad debts are estimated to be 4% of credit sales. Show how Accounts Receivable and the Allowance for Doubtful Accounts appea on its December 31 balance sheet. Current assets: ! Required information (The following information applies to the questions displayed below.) At December 31, Hawke Company reports the following results for its calendar year. Cash sales $ 160,000 Credit sales $ 400,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $ 360,000 debit $ 2,900 debit 3. An aging analysis estimates that 4% of year-end accounts receivable are uncollectible. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet. Current assets
