25 2 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 crede sales for the month. At the fiscal year-end of December 31, an aging of accounts receivable schedule is prepared and the afowance 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 seginning balance credit sales Collections Indire lance (2,543,000) The company's controller prepared the following aging summary of year-end accounts receivable Asce -60 days 41-30 days 91-128 days incollectible 29 over 128 days Total Required 1. Prepare a summary journal entry to record the monthly bad debt accrual and the write-offs during the year 2. Prepare the necessary year end aqusting entry for bed det expense 3. What is total bad debt expense for 2024 3-8. How would accounts receivable appear in the 2024 balance sheet Complete this question by entering your answers in the tabs below. Prepare a summary journal entry to record the monthly bad debt annual and the write-offs during the year entry is required for a transaction/event, select "No journal entry required as the first account field Journal entry worksheet 75 2 points Skippet Required: 1. Prepare a summary journal entry to record the monthly bad debt accrual and the write-offs during the year 2. Prepare the necessary year-end adjusting entry for bad debt expense 3-e. What is total bad debt expense for 2024? 3-b. How would accounts receivable appear in the 2024 balance sheet? Complete this question by entering your answers in the tabs below. Red 1 Reg 3A 38 Prin Prepare a summary journal entry to record the monthly bad debt accrual and the write-offs during the year Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Rec Journal entry worksheet Record a summary entry to record the 2024 write-offs Event General Journal 2 Allowance for uncollectible accounts Dett 49 000 Credit Accounts receivable 45.000 Record entry Clear entry View general journal Req2 > 75 2 points Dipped Required: 1. Prepare a summary journal entry to record the monthly bad debt accrual and the write-offs during the year. 2. Prepare the necessary year-end adjusting entry for bad debt expense 3-e. What is total bad debt expense for 2024? 3-b. How would accounts receivable appear in the 2024 balance sheet? Complete this question by entering your answers in the tabs below. Book Req 1 Red 2 0 Pri References Prepare the necessary year-end adjusting entry for bad debt expense. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet Record the year-end adjusting entry for bad debt expense. Note: Emer debits before credits. Event General Journal Debit Credit 1 Bad debt expense Allowance for uncollectible accounts Record entry Clear entry View general journal 25 pos apped Swathmore Clothing Corporation grants its customers 30 days creat. The company uses the allowance method for its uncollectible accounts receivable. During the year, a monthly bad debt sccrual is made by multiplying 2% times the amount of credit sales for the month. At the fiscal year-end of December 31, en 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 collections write-offs Ending balance The company's controler prepared the following aging summary of year-end accounts receivable Face 6-60 days Percent Age Group Mount Uncollectible 1420,000 10,000 $3,000 29 113,000 91-120 days Over 120 days Total Required: 1. Prepare a summary journal entry to record the monthly bad debt accrual and the write-offs during the year 2. Prepare the necessary year-end adjusting entry for bad debt expence 3. What is total bad debt expense for 2024 3-b. How would accounts receivable appear in the 2024 balance sheet Complete this question by entering your answers in the tabs below. What is total bad debt expense for 2024 Bad debt expense 75 p 19 2 BLLOUS FELTYOue Lay ne yedi, a munyue tour by unpyysin sales 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 collections write-offs Ending balance (7,583,000) The company's controller prepared the following aging summary of year-end accounts receivable -se days 61-90 days Age Group Mount $420,000 uncollectible 53,00 29 40 1-120 days Over 12 days Total Required 1. Prepare a summary journal entry to record the monthly bad debt accrual and the write-offs during the year 2. Prepare the necessary year-end adjusting entry for bad debt expence 3. What is total bad debt expense for 2024 3-b. How would accounts receivable appear in the 2024 balance sheet Complete this question by entering your answers in the tabs below. How would accounts receivable appear in the 2024 balance sheet Balec Sheet (partial) Account cav