Check my work 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 $ 280,000 Credit sales $ 700.000 In addition, its unadjusted trial balance includes the following items Accounts receivable Allowance for doubtful accounts $630,000 debit $5,000 debit Required: 1. 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 Adjusting entries (all dated December 31). Required information TERMy work of 3 A B Bad debts are estimated to be 4% of credit sales. Note: Enter debits before credits Look Tint Debit Date General Journal December 31 Accounts receivable Credit ences Record entry Clear entry View general journal e information rt 1 of 3 B Bad debts are estimated to be 3% of total sales. nts Note: Enter debits before credits eBook Date General Journal Debit Credit Print December 31 References Record entry Clear entry View general journal of 3 Journal entry worksheet B An aging analysis estimates that 4% of year-end accounts receivable are uncollectible. Ook int Note: Enter debits before credits rences Date General Journal Debit Credit December 31 View general journal Clear entry Record entry