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, Hawke Company reports the following results for its calendar year Cash sales Credit sales 51,739, 110 $3,529,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $1,069,287 debit $ 23,750 debit Problem 7-2A Part 1 Required: 1. Prepare the adjusting entry to record bad debts under each separate assumption. 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). (Do not round Intermediate calculations.) omework Required information Required: 1. Prepare the adjusting entry to record bad debts under each separate assumption. 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). (Do not round intermediate calculations.) View transaction list Journal entry worksheet 3 Bad debts are estimated to be 3% of credit sales. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal nework Required information Required: 1. Prepare the adjusting entry to record bad debts under each separate assumption. 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 uncollectibl Adjusting entries (all dated December 31). (Do not round intermediate calculations.) View transaction list Journal entry worksheet Bad debts are estimated to be 2% of total sales. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal ki Required information Required: 1. Prepare the adjusting entry to record bad debts under each separate assumption. 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). (Do not round intermediate calculations.) View transaction list Journal entry worksheet