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 $1,302,950 $3,281,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $994, 143 debit $ 29,090 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 5% of year-end accounts receivable are uncollectible. Adjusting entries (all dated December 31). (Do not round intermediate calculations.) View transaction list Journal entry worksheet Bad debts are estimated to be 2% of credit sales. Note: Enter debits before credits. Transaction General Journal Debit Credit . Record entry Clear entry View general journal Journal entry worksheet Bad debts are estimated to be 1% of total sales. Note: Enter debits before credits. General Journal Debit Credit Transaction b Record entry Clear entry View general journal Journal entry worksheet An aging analysis estimates that 5% of year-end accounts receivable are uncollectible. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal