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Prepare the adjusting entry for this company to recognize bad debts under each of...

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Accounting

Prepare the adjusting entry for this company to recognize bad debts under each of the following independent assumptions.
A. Bad debts are estimated to be 4% of credit sales.
B. Bad debts are estimated to be 3% of total sales.
C. An aging Analysis that 7% of year-end accounts receivable are uncollectible.
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Required information 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 $2,001,480 3, 482,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $1, 055, 046 debit 26, 120 debit Required: 1. Prepare the adjusting entry for this company to recognize bad debts under each of the following indepe a. b. c. 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

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