Swathmore Clothing Corporation grants its customers 30 days' credit. The company uses the allowance method for the year a monthly bad debt accrual is made by multiplying 2% times the amount of credit sales for the month. At the uncollectible accounts is adjusted accordingly fiscal year-end of December 31, an aging of accounts receivable schedule is prepared and the allowance for the end of 2017, accounts receivable were $576,000 and the allowance account had a credit balance of $40,000. Accounts recelvable activity for 2018 was as follows Beginning balance Credit sales Collections Write-offs Ending belance 576,e08 2,638,000 (2,493,8ae) (48,800) 673,900 The company's controller prepared the following aging summary of year-end accounts receivable AmountPercent Uncollectible 0-60 days 61-90 days 91-120 days Over 120 days $435,000 98,000 50,000 90,000 $673,000 3% 10 20 30 Total 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