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Problem 9-2A Estimating and reporting bad debts P2 At December 31, 2015, Hawke Company reports the following results for its calendar year. $1,905,000 5.682,000 Cash sales Credit sales In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts . $1,270,100 debit 6,580 debit Required 1. Prepare the adjusting entry for this company to recognize bad debts under each of the following inde- pendent assumptions. a. Bad debts are estimated to be 1.5% of credit sales. 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. Check Bad Debts 2. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31. Expense: (a) 585 230 2015, balance sheet given the facts in part la. 1d $80.085 3. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31, 2015, balance sheet given the facts in part Ic