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 $ 50,000 $ 125,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $ 112,500 debit $ 900 debit 2. Bad debts are estimated to be 4% of credit sales. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet. Current assets: Accounts receivable $ 112,500 Less: Allowance for doubtful accounts $ 112,500