3 Part 2 0 Required information Problem 7-2A (Algo) Estimating and reporting bad debts LO P2, P3 [The following information applies to the questions displayed below) At December 31, Hawke Company reports the following results for its calendar year. Part 2 of 3 2 points Cash sales Credit sales $1,639,270 $3,590,000 In addition, its unadjusted trial balance includes the following items. Bock Accounts receivable Allowance for doubtful accounts $1,687,778 debit 5 22,220 debit conces Problem 7-2A (Algo) Part 2 2. Bad debts are estimated to be 3% of credit sales Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet Current assets MC