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 $1,386,340 Credit sales $3,839,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $1,163,217 debit $ 28,830 debit 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 6% of year-end accounts receivable are uncollectible. Adjusting entries (all dated December 31). (Do not round intermediate calculations.) View transaction list Journal entry worksheet 2 3 Bad debts are estimated to be 3% of credit sales