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

Cash sales	$ 520,000
Credit sales	$ 1,300,000

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

Accounts receivable	$ 390,000	debit
Allowance for doubtful accounts	$ 4,700	debit

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

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

Adjusting entries (all dated December 31).