4 Required information Problem 7-2A Estimating and reporting bad debts LO P2, P3 The following information applies to the questions displayed below At December 31, 2017, Hawke Company reports the following results for its calendar year Cash sales $1,581,160 Credit sales 3,406,000 6 In addition, its unadjusted trial balance includes the following items $1,032,018 debit 20, 1s0 debit Accounts receivable Allovance for doubtful accounts Problem 7-2A Part Reterences Required e bad debts under each of the following independent assumpoons 1. Prepare the adjusting entry for this company to recogniz Bad debts are estimated to be 3% of credit sales. Bad debts are estimated to be 2% of total sales An aging analysis estimates that 6% of year-end accounts receivable c. Adjusting entries (all dated December 31, 2017) Journal entry worksheet % oe crede sales Bad debts are estimated to be 16 fE Next > 14 C Prev sc