Required information [The following information applies to the questions displayed below.) Part 1 of 3 At December 31, Hawke Company reports the following results for its calendar year. 1.25 points Cash sales Credit sales $1,672,050 $3,032,000 Skipped In addition, its unadjusted trial balance includes the following items. eBook Print Accounts receivable Allowance for doubtful accounts $918,696 debit $ 25,690 debit References 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.) 1 Bad debts are estimated to be 4% of credit sales. 2 Bad debts are estimated to be 3% of total sales. 3 An aging analysis estimates that 7% of year-end accounts receivable are uncollectible