! 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 $ 240,000 Credit sales $600,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $ 324,080 debit $ 3,200 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 5% of year-end accounts receivable are uncollectible. Adjusting entries (all dated December 31)