Required information Problem 7-2A (Algo) Estimating and reporting bad debts LO P2, P3 [The following information applies to the questions displayod bolow] At December 31, Hawke Company reports the following results for its calendar year. Cash:selensCreditsinales$240,000$600,000 In addition, its unadjusted trial balance includes the following tems. hcooante receivable Allovafice for doubt ful acoounts 5. 324,600 debit. 5. 324,000 deteit. \$ 3,200 denbit: Problem 7-2A (Algo) Part 2 2. Bad debts are estimated to be 3% of credit sales. Show how Accounts Recelvable and the Allowance for Doubtful Accounts appear on its Decomber 31 balance sheet. 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 yeat, In addition, its unadjusted trial balance includes the following items: hecounti receivable kecount seceivabio Mlovanes for doubeful acebanta 324,000 debit 53,200 debit Problem 7.2A (Algo) Part 2 2. Bad debts are estimated to be 3% of credit sales. Show how Accounts Recelvable and the Allowance for Doubtful Accounts appear on its December 3t balance sheet 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. In addition, Its unadjusted trial balance includes the following items. Neceunts recelvable Nilionanes for doubtful secounts 5. 324,000 debit $3,200 debit 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