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 $2015,$ accounts receivable were $$574,000$ and the allowance account had a credit balance of $$54,000.$ Accounts receivable activity for $2016$ was as follows:Beginning balance $=574000$Credit sales $=2620000$Collections $=(2483000)$Write$-$offs $=(68000)$Ending balance$=$ $$643000$The company's controller prepared the following aging summary of year$-$end accounts receivable:Age GroupAmountSummary Percent Uncollectible$0-60$ days$$430,0004\%61-90$ days$98,0001591-120$ days$60,00025$Over $120$ days$55,00040$Total$$643,0001-$ Prepare a summary journal entry to record the monthly bad debt accrual.DebitChoose... Bad debt expenseAllowances for uncollectiblesAccounts receivableCreditChoose... Bad debt expenseAllowances for uncollectiblesAccounts receivable$2-$ Prepare a summary journal entry to record the write$-$offs during the year.DebitChoose... Bad debt expenseAllowances for uncollectiblesAccounts receivableCreditChoose... Bad debt expenseAllowances for uncollectiblesAccounts receivable$3-$ Prepare the necessary year$-$end adjusting entry for bad debt expense.DebitChoose...Bad Debt ExpenseAllowances for uncollectible accountsAccounts ReceivableCreditChoose...Bad debt expenseAllowances for uncollectiblesAccounts receivable$4-$ What is total bad debt expense for $2016?5-$ How would accounts receivable appear in the $2016$ balance sheet?Accounts Receivable $=?$Less:Choose... Bad Debt ExpenseAllowances for uncollectiblesChoose... Accounts ReceivableNet ReceivablesNet realizable value