Swathmore Clothing Corporation grants its customers 30 days credit The comparty uses the allowance method for its uncollecticle accounts receivable During the year, a monthly bad debt accrual is made by multiplying 33% 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 2017, accounts receivable were $586,000 and the allowance account had a credit balance of $50000. Accounts receivable activity for 2018 was as follows s 586,e00 2,658,e06 Beginning balance Credit sales Collections Write-offs (2,343,00e) 45,900 5678,ee8 Ending balance The comouny's controler prepared me foliowng hong sumnay etesvoble Anount Percent Unrallectible Ace Group e-6a days 61-s0 deys 91-120 days Over 12e deys 5480,800 5,8e3 55,000 128,900 15 Check Sunnary Group 8-60 days 61-98 days 91-128 days Over 1.2e days $488,088 4% 15 95,906 55,890 128,e 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? Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3A Req 38 Prepare a summary journal entry to record the monthly bad debt accrual and the write-offs during the year. (If no entry is required for a transaction/event, select "No journal antry required in the first ascount field.)