eck my work mode : This shows what is correct or incorrect for the work you have completed so far. 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 Credit sales $1,584,790 3,971,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $1,203,213 debit 16,540 debit Problem 7-2A Part 1 Required: 1 Dronaro tho adictine ont for this remnany to rernanize har rehte lindor oach of the followinn k my work mode : This shows what is correct or incorrect for the work you have completed so fan In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $1,203,213 debit 16,540 debit Problem 7-2A Part 1 Required: 1. Prepare the adjusting entry for this company to recognize bad debts under each of the followi independent assumptions. a. Bad debts are estimated to be 3% of credit sales. b. Bad debts are estimated to be 2% of total sales. C. An aging analysis estimates that 6% of year-end accounts receivable are uncollectible. Adjusting entries (all dated December 31, 2017)