! 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 Credit sales $ 340, eee $ 850,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $ 765,000 debit $ 6, 10e 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). View transaction list Journal entry worksheet B Required: 1. Prepare the adjusting entry to record bad debts under each separate assumption o. 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). View transaction fist Journal entry worksheet B Bad debts are estimated to be 4% of credit sales. Note Enter debits before credits General Journal Date Debit Credit December 31 Record entry Clear entry View general journal BIRY 1 2 3 of 3 III Scoreans w View transaction list Journal entry worksheet A > Bad debts are estimated to be 3% of total sales. Note: Enter debits before credits. Date General Joumal Debit Credit December 31 Record entry Clear entry View general journal View transaction list Journal entry worksheet B 03 An aging analysis estimates that 4% of year-end accounts receivable are uncollectible. Note: Enter debits before credits: Date General Joumal Debit Credit December 31 Record entry Clear entry View general Journal