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Required information [The following information applies to the questions displayed below.] At December 31, Hawke Company reports the following results for its calendar year. In
Required information [The following information applies to the questions displayed below.] At December 31, Hawke Company reports the following results for its calendar year. In addition, its unadjusted trial balance includes the following items. AccountsreceivableAllowancefordoubtfulaccounts$570,000debit$6,800debit Required: 1. Prepare the adjusting entry to record bad debts under each separate assumption. a. Bad debts are estimated to be 2% of credit sales. b. Bad debts are estimated to be 1% of total sales. c. An aging analysis estimates that 6% of year-end accounts receivable are uncollectible. Answer is not complete
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