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 $ 280,000 $ 700,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $ 210,000 debit $ 2,500 debit 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. Adjusting entries (all dated December 31). Journal entry worksheet < Bad debts are estimated to be 2% of credit sales. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general journal > Journal entry worksheet < A B Bad debts are estimated to be 1% of total sales. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general journal > Journal entry worksheet < A B An aging analysis estimates that 6% of year-end accounts receivable are uncollectible. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general journal 2. Bad debts are estimated to be 2% of credit sales. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet. Current assets: $ 0 3. An aging analysis estimates that 6% of year-end accounts receivable are uncollectible. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet. Current assets: $ 0