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Saved Required information [The following information applies to the questions displayed below.] At December 31,...

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Accounting

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Saved Required information [The following information applies to the questions displayed below.] At December 31, Hawke Company reports the following results for its calendar year. Cash sales $ 340,000 Credit sales $ 850,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable. $ 765,000 debit Allowance for doubtful accounts $ 6,100 debit Required: 1. Prepare the adjusting entry to record bad debts under each separate assumption. 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 estimates that 4% of year-end accounts receivable are uncollectible. Adjusting entries (all dated December 31). View transaction list Journal entry worksheet C Prev 14 15 16 of 17 Chapter 7 i Next > 14 t 1 of 3 its eBook Print Adjusting entries (all dated December 31). View transaction list Journal entry worksheet

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