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journal entry Required information The following information applies to the questions displayed below.) At December 31, Hawke Company reports the following results for its calendar
journal entry
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 $1,331,790 Credit sales $3,012,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $912,636 debit $ 24,528 debit Required: 1. Prepare the adjusting entry to record bad debts under each separate assumption. a. Bad debts are estimated to be 3% of credit sales. b. Bad debts are estimated to be 2% of total sales. c. An aging analysis estimates that 6% of year-end accounts receivable are uncollectible. Adjusting entries (all dated December 31). (Do not round intermediate calculations.) View transaction list Journal entry worksheet Bad debts are estimated to be 3% of credit sales. Note: Enter debits before credits Transaction General Journal Debit Credit Journal entry worksheet Bad debts are estimated to be 2% of total sales. Note: Enter debits before credits. Transaction b General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet 1 2 3 An aging analysis estimates that 6% of year-end accounts receivable are uncollectible. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Step by Step Solution
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