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Part 3 of 3
[The following information applies to the questions displayed below.]
At December 31,Hawke Company reports the following results for its calendar year.
10 points
Cash sales Credit sales
$560,000 $ 1,400,000
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In addition, its unadjusted trial balance includes the following items
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Accounts receivable Allowance for doubtful accounts
$756,000debit $ 7,600 debit
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3.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.
Current assets: