The following information applies to the questions displayed below At December 31, 2018, Hawk e Company reports the following results for its calendar year. Cash sales Credit sales $1,628,10 2,832,008 In addition, its unadjusted trial balance includes the following items Accounts receivable Allowance for doubtful accounts $858,096 debit 14,610 debit Required: 1. Prepare the adjusting entry for this company to recognize bad debts under each of the following independent assumptions a. Bad debts are estimated to be 2% of credit sales. (Round your final answers to the nearest whole dollar.) 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. (Round your final answers to the nearest whole dollar.) Adjusting entries (all dated December 31, 2018) Required information [The following information applies to the questions displayed below At December 31,2018, Hawke Company reports the following results for its calendar year. Cash sales $1,628,010 2,832,000 In addition, its unadjusted trial balance includes the following items. Acc $858,096 debit 14,610 debit Receivable and the Allowance for Doubtful Accounts appear on its December 31, 2018 balance sheet assuming that bad debts are estimated to be 2% of credit sales