Chapter 7 HW Help Save&Exit Submit Chapter 7 HW e Check my work 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 Part 1 of 4 10 points calendar year $1,637,94 3,298,88 Credit sales In addition, its unadjusted trial balance includes the following items. Accounts recelvable Allowance for doubtful accounts 999,294 debit 12,01e debit Problem 7-2A Part 1 Required: 1. Prepare the adjusting entry for this company to recognize bad debts under each of the following a b. e 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 7% of year-end accounts receivable are uncollectible. Adjusting entries (all dated December 31, 2017) 1234fNext> O Type here to search XMGMT-026 Chapter 09 1S mi?returntMc https%3A%2F%2F ion.com%2Fpaamwebl.2Findex.htmm23%2Fregis HW Required information Required: 1. Prepare the adjusting entry for this company to recognize bad debts under each of the following independent assumptions. 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 7% of year-end accounts receivable are uncolectible. b. Adjusting entries (all dated December 31, 2017) Transaction Bad debts expense Allowance for doubtful accounts Bad debts expense Allowance for doubtful accounts Bad debts expense Allowance for doubtful accounts 1234 of 6l