Required informationSkip to question$[$The following information applies to the questions displayed below.$]$At December $31,$ Hawke Company reports the following results for its calendar year.Cash sales$ $100,000$Credit sales$ $250,000$In addition, its unadjusted trial balance includes the following items.Accounts receivable$ $225,000$debitAllowance for doubtful accounts$ $1,800$debitRequired:$1.$ Prepare the adjusting entry to record bad debts under each separate assumption.Bad debts are estimated to be $4\%$ of credit sales.Bad debts are estimated to be $3\%$ of total sales.An aging analysis estimates that $4\%$ of year$-$end accounts receivable are uncollectible.Adjusting entries $($all dated December $31).$