Required Information The following information applies to the questions displaye

Question

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 $1,398,858 Credit sales 3,463,800 in addition, its unadjusted trial balance includes the following items Accounts receivable Allowance for doubtful accounts $1,049,289 debit 18, 640 debit Required: 1, Prepare the adjusting entry for this compan y to recognize bad debts under each of the following independent assumptions . Bad debts are estimated to b. : Bad debts are estimated to be 2% of total sales. 3% of credit sales. An aging analysis estimates that 6% of year-end accounts recevoble are uncoliectible Journal entry worksheet

Explanation / Answer

a.

b.

c.

Credit sales    3,463,000 Percentage allowance 3% Bad debt       103,890

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