Check my work 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 2017, accounts receivable were $610,000 and the allowance account had a credit balance of $74,000. Accounts receivable activity for 2018 was as follows: $ Beginning balance Credit sales Collections Write-offs Ending balance 610,000 2,800,000 (2,663, 000) (57,000) 690,000 s The company's controller prepared the following aging summary of year-end accounts receivable: Age Group Summary Percent Uncollectible Amount Check my v 6 Ending balance S 690,000 The company's controller prepared the following aging summary of year-end accounts receivable: 10 points 8 03:05:43 Age Group 0-60 days 61-90 days 91-120 days Over 120 days Total Summary Amount Percent Uncollectible $460,000 4 78,000 15 67,000 26 85,000 41 $690.000 Skipped elook Print 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-a. What is total bad debt expense for 2018? 3-b. How would accounts receivable appear in the 2018 balance sheet? References Complete this question by entering your answers in the tabs below