(Solved): I need Allowance for doubtful accounts numbers   Required: 1. Prepare the adjusting entr ...

I need Allowance for doubtful accounts numbers

 

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 \( 5 \% \) of year-end accounts receivable are uncollectible. Adjusting entries (all dated December 31). Required information [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. 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. Required information [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. An aging analysis estimates that \( 5 \% \) of year-end accounts receivable are uncollectible. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet.