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 $1,501,520 $3,404,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable $1,031,412 debit Allowance for doubtful accounts $ 15,440 debit nces Required: 1. Prepare the adjusting entry to record bad debts under each separate assumption a. Bad debts are estimated to be 4% of credit sales. b. Bad debts are estimated to be 3% of total sales. c. An aging analysis estimates that 7% of year-end accounts receivable are uncollectible Adjusting entries (all dated December 31). (Do not round Intermediate calculations.) View transaction list View journal entry worksheet No Transaction General Journal 1 2 b 3 9 Bad debts expense Allowance for doubtful accounts Bad debts expense. Allowance for doubtful accounts Bad debts expense Allowance for doubtful accounts Debit Credit