Required information

[The following information applies to the questions displayed below.] At December 31, 2017, Hawke Company reports the following results for its calendar year.

Cash sales	$	1,558,750
Credit sales		2,963,000

In addition, its unadjusted trial balance includes the following items.

Accounts receivable	$	897,789	debit
Allowance for doubtful accounts		29,350	debit

Required: 1. Prepare the adjusting entry for this company to recognize bad debts under each of the following independent assumptions.

1. Bad debts are estimated to be 3% of credit sales.
2. Bad debts are estimated to be 2% of total sales.
3. An aging analysis estimates that 6% of year-end accounts receivable are uncollectible.

Adjusting entries (all dated December 31, 2017).