Required Information The following information applies to the questions displayed below. At December 31. 2017. Hawke Company reports the following results for its calendar year Cash sales $1,398,858 Credit sales 3,463,800 in addition, its unadjusted trial balance includes the following items Accounts receivable Allowance for doubtful accounts $1,049,289 debit 18, 640 debit Required: 1, Prepare the adjusting entry for this compan y to recognize bad debts under each of the following independent assumptions . Bad debts are estimated to b. : Bad debts are estimated to be 2% of total sales. 3% of credit sales. An aging analysis estimates that 6% of year-end accounts recevoble are uncoliectible Journal entry worksheet