Required information The following information applies to the questions displayed below.] At December 31, Hawke Company reports the following results for its colendar yoar. Cash sales $400,000 Credit sales s 1,000,000 In addition, its unadjusted trial balance includes the foltowing items. 2. Bad debts are estimated to be 3% of credit sales. Show how Accounts Recelvable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet. Journal entry worksheet Bad debts are estimated to be 3% of credit sales. Note: Enter debits before credits. 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. 3. An aging analysis estimates that 5% of year-end accounts receivable are uncollectible. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet. 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. 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). Journal entry worksheet