Required Information [The following information applies to the questions displayed below.] At December 31, Hawke Company reports the following results for its calendar year. CashsalesCreditsales$400,000;1,000,000 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 3% of credit sales. b. Bad debts are estimated to be 2% of total sales. c. An aging analysis estimates that 5% of year-end accounts recelvable are uncollectible. Adjusting entries (all dated December 31). 2. Bad debts are estimated to be 3% of credit sales. Show how Accounts Recelvable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet. 3. An aging analysis estimates that 5% of year-end accounts recelvable are uncollectible. Show how Accounts Recelvable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet. Requlred: 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 5% of year-end accounts recelvable are uncollectible. Adjusting entries (all dated December 31). Journal entry worksheet Bad debts are estimated to be 3% of credit sales. Note: Enter debits before credits. Journal entry worksheet Bad debts are estimated to be 2% of total sales. Note: Enter debits before credits