Chapter 7 Homework (P7-1,P7-2.P7-3.P7-4 and P7-5) 5 Required information Part 13 [The following information applies to the questions displayed below) poires At December 31, Hawke Company reports the following results for its calendar year. Cash sales a Credit sales $200,000 $700,000 In addition, its unadjusted trial balance includes the following items Accounts receivable. Allowance for doubtful accounts Required 1. Prepare the adjusting entry to record bad debts under each separate assumption a. Bad debts are estimated to be 2% of credit sales b. Bad debts are estimated to be 1% of total sales c. An aging analysis estimates that 6% of year-end accounts receivable are uncollectible Adjusting entries (all dated December 30 View transactions Journal entry worksheet < A B C Bad debts are estimated to be 2% of credit sales Help Save & Exit Submit Check my work