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74.26/100 Total points werden Required information [The following information applies to the questions displayed below) At December 31, 2018, Hawke Company reports the following results for its calendar year Cash sales Credit sales $1,905,800 5,682,600 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $1,270,1ee debit 16,580 debit Required: 1. Prepare the adjusting entry for this company to recognize bad debts under each of the following independent assumptions Bad debts are estimated to be 15% of credit sales b. Bad debts are estimated to be 1% of total sales c. An aging analysis estimates that 5% of year-end accounts receivable are uncollectible a. Adjusting entries (all dated December 31, 2018). Suometod 74.26/100 Total poir Required: 1. Prepare the adjusting entry for this company to recognize bad debts under each of the following independent assumptions. a. Bad debts are estimated to be 1.5% of credit sales. b. Bad debts are estimated to be 1% of total sales, C. An aging analysis estimates that 5% of year-end accounts receivable are uncollectible. Adjusting entries (all dated December 31, 2018). No Transaction 1 General Journal Bad debts expense Allowance for doubtful accounts Credit Debit 8.523 98 2 b Bad debts expense Allowance for doubtful accounts 7,587 X 3 3 Bad debts expense Allowance for doubtful accounts 8.008 >