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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 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 2020, accounts receivable were $612,000 and the allowance account had a credit balance of $76,000. Accounts receivable activity for 2021 was as follows: Beginning balance Credit sales Collections Write-offs Ending balance $ 612,000 2,810,000 12,673,000) (50,000) $ 691,000 The company's controller prepared the following aging summary of year-end accounts receivable: Age Group 0-60 days 61-90 days 91-120 days Over 120 days Total Summary Amount Percent Uncollectible 5465,000 5 88.000 10 68,000 27 18.000 35 $691,000 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 2021? 3-b. How would accounts receivable appear in the 2021 balance sheet? Complete this question by entering your answers in the tabs below. ht nces Req 1 Req 2 Req 3A Reg 3B Prepare a summary Journal entry to record the monthly bad debt accrual and the write-offs during the year. (If no entry transaction/event, select "No journal entry required in the first account Meld.) View transaction list Journal entry worksheet Record a summary entry to record the monthly bad debt accrual. Total $691,000 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 2021? 3-6. How would accounts receivable appear in the 2021 balance sheet? Complete this question by entering your answers in the tabs below. tes Req 1 Reg 2 Req 3A Req 38 How would accounts recevable appear in the 2021 balance sheet? Balance Sheet(partial) Current assets Accounts receivable (net)