caps lock shift 412 Chapter 9 Accounting for Receivables Problem 9-2A Estimating and reporting bad debts P2 P3 At December 31, 2017, Hawke Company reports the following results for its calendar 201 $1,905,000 5,682,000 Cash sales Credit sales In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $1,270,100 debit 16,580 debit Req Required allo 1. Prepare the adjusting entry for this company to recognize bad debts under each of the following inie pendent assumptions. a. Bad debts are estimated to be 1.5% of credit sales. Th b. Bad debts are estimated to be 1% of total sales Check Bad Debts Expense (1a) $85,230, (1c) $80,085 An aging analysis estimates that 5% of year-end accounts receivable are uncollectible. 2. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its Decembe 20 2017, balance sheet given the facts in part la. 3. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its 2017, balance sheet given the facts in part 1c. Problem 9-3A Aging accounts Jarden Company has credit sales of $3,600,000 for year 2017. On December 31, 2017, the compu nts receivable Allowance for Doubtful Accounts has an unadjusted credit balance of $14,500. Jarden prepares a and accounting for bad its December 31,2017, accounts receivable by age. On the basis of past experience, it estimates the a schedul of receivables in each age category that will become uncollectible. This information is summarized debts P2 P3