Required information [The following information applies to the questions displayed below.] At December 31, Hawke Company reports the following results for its calendar year. In addition, its unadjusted trial balance includes the following items. 2. Bad debts are estimated to be 1.5% of credit sales. Show how Accounts Recelvable and the Allowance for Doubtful Accoun appear on its December 31 balance sheet. Required information [The following information applies to the questions displayed below.] At December 31 , Hawke Company reports the following results for its calendar year. In addition, its unadjusted trial balance includes the following items. 3. An aging analysis estimates that 5% of year-end accounts receivable are uncollectible. Show how Accounts Receivable and Allowance for Doubtful Accounts appear on its December 31 balance sheet. Mayfair Company completed the following transactions and uses a perpetual inventory system. June 4 Sotd $650 of merchandise on credit (that had cost $400 ) to Natara Morris, terms n/25. June 5 Sold $6,900 of merchandise (that had cost $4,200 ) to custoners who used their Zisa cards. Zisa charges a 34 fee. June 6 sold $5,850 of nerchandise (that had cost $3,800 ) to customers who used their Access cards. Access charges a 24 June 8 Sold $4,350 of merchandise (that had cost $2,900 ) to custoners who used their Access cards. Access charges a 28 fee. June 13 Wrote off the account of Abigail Mckee against the Allowance for Doubtful Accounts. The 5429 balance in Mckee's account was from a credit sale last year. June 18 Received Morris's check in full payment for the June 4 purchase. Required: Prepare journal entries to record the preceding transactions and events. Journal entry worksheet Note: Enber debits before credits. Required information [The following information applies to the questions displayed below.] At December 31, Hawke Company reports the followirtg results for its calendar year. In addition, its unadjusted trial balance includes the following items. Required: 1. Prepare the adjusting entry to record bad debts under each separate assumption. a. Bad debts are estimated to be 1.5% 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). Journal entry worksheet B C Bad debts are estimated to be 1.5% of credit sales