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 2020, accounts receivable were $582,000 and the allowance account had a credit balance of $46,000. Accounts receivable activity for 2021 was as follows: Beginning balance $ 582,000 Credit sales 2,660,000 Collections (2,523,000 ) Write-offs (43,000 ) Ending balance $ 676,000 The companys controller prepared the following aging summary of year-end accounts receivable: Summary Age Group Amount Percent Uncollectible 060 days $ 390,000 3 % 6190 days 93,000 13 91120 days 53,000 23 Over 120 days 140,000 34 Total $ 676,000 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?