16 Swathmore Clothing Corporation grants its customers 30 days' credit. The company uses the allowance method for its uncollectible accounts receivable. During the year, a monthly bad debt accrual is made by multiplying 2% times the amount of credit sales for the month. At the fiscal year-end of December 31, an aging of accounts receivable schedule is prepared and the allowance for uncollectible accounts is adjusted accordingly. At the end of 2023, accounts receivable were $594,000 and the allowance account had a credit balance of $58.000 Accounts receivable activity for 2024 was as follows Beginning balance Credit sales Callections Write-offs Ending balance 534,000 3,720,000 (2,583,000) (49,000) $42,000 The company's controller prepared the following aging summary of year-end accounts receivable Percent Apt Group 8:58 days Amunt $430,000 00,000 59,000 Chcollectable AW.. 29 Over 1211 days 113,000 tinal 1682,000 Required: 1. Prepare summary journal entry to record the monthly bad debt accrual anut the withe offs chuting the year 2. Prepare the necessary year end adjaiding entry for hatt debt expense 3. What is total bad debt expense for 2024 Nest