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 uncollectible accounts is adjusted accordingly At the end of 2017, accounts receivable were $586,000 and the allowance account had a credit balance of $50,000. Accounts . month At the fiscal year-end of December 31, an aging of accounts recelvable schedule is prepared and the allowance for receivable activity for 2018 was as follows Beginning balance Credit sales Collections Write-offs Ending belance $ 586,900 2,680,80e (2,543,8ee) (45,800) 678,000 os The company's controller prepared the following aging summary of year-end accounts recelvable Age Group -60 days 61-98 days 91-120 days Over 120 days Amount Percent Uncollectible $5400,000 4% 15 25 36 95,000 55,000 128 Total %678,000 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-o. What is total bad debt expense for 2018? 3-b. How would accounts receivable appear in the 2018 balance sheet