! 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 $1,367,310 2,923,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $885, 669 debit 27,510 debit Required: 1. Prepare the adjusting entry for this company to recognize bad debts under each of the following independent assumptions. a. b. Bad debts are estimated to be 4% of credit sales. (Round your final answers to the nearest whole dollar.) Bad debts are estimated to be 3% of total sales. An aging analysis estimates that 7% of year-end accounts receivable are uncollectible. (Round your final answers to the nearest whole dollar.) C. Adjusting entries (all dated December 31, 2018). Journal entry worksheet 1 2 3 Bad debts are estimated to be 4% of credit sales. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal Journal entry worksheet 1 2 3 > Bad debts are estimated to be 3% of total sales. Note: Enter debits before credits. Transaction General Journal Debit Credit b. Record entry Clear entry View general journal Journal entry worksheet 1 2 3 > An aging analysis estimates that 7% of year-end accounts receivable are uncollectible. Note: Enter debits before credits. Transaction General Journal Debit Credit C. Record entry Clear entry View general journal