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 2% 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 2023, accounts receivable were $612,000 and the allowance account had a credit balance of $76,000. Accounts receivable activity for 2024 was as follows:

Beginning balance	$ 612,000
Credit sales	2,810,000
Collections	(2,673,000)
Write-offs	(58,000)
Ending balance	$ 691,000

The companys controller prepared the following aging summary of year-end accounts receivable:

Age Group	Summary
	Amount	Percent Uncollectible
060 days	$ 465,000	5%
6190 days	80,000	10
91120 days	68,000	27
Over 120 days	78,000	35
Total	$ 691,000

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 2024?

3-b. How would accounts receivable appear in the 2024 balance sheet?