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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 3% 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 $574,000 and the allowance account had a credit balance of $54,000. Accounts receivable activity for 2024 was as follows: The company's controller prepared the following aging summary of year-end accounts receivable: 1. Prepare a summary journal entry to record total monthly bad debt expenses and the write-offs during the year. (Hint: use the income statement approach to determine monthly bad debt expense) 2. Prepare the necessary year-end adjusting entries for bad debt expense. (Hint: use the aging method to determine the year-end required balance of Allowance for Uncollectible Account rand the additional bad debt expense is the difference between the ending balance and the preadjustment balance) 3. What is total bad debt expense for 2024 ? 4. What is the net realizable value of the company's Accounts Receivable in the 2024 balance sheet