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 $590,000 and the allowance account had a credit balance of $54,000. Accounts receivable activity for 2021 was as follows: Beginning balance Credit sales Collections Write-offs Ending balance 590,000 2,700,000 (2,563,000) (47,000) S 680,000 The company's controller prepared the following aging summary of year-end accounts receivable: Age Group Summary Amount Percent Uncollectible 5% 11 27 38 0-60 days 61-90 days 91-120 days Over 120 days Total $ 410,000 97,000 57,000 116,000 $ 680,000 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? 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? Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3A Req 3B 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 entry required" in the first account field.) View transaction list Journal entry worksheet < 1 2 Record a summary entry to record the monthly bad debt accrual. Note: Enter debits before credits. Event 1 General Journal Debit Credit Record entry Clear entry View general journal > Journal entry worksheet < 1 2 Record a summary entry to record the 2021 write-offs. Note: Enter debits before credits. Event 2 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 Record the year-end adjusting entry for bad debt expense. Note: Enter debits before credits. Event 1 General Journal Debit Credit Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3A Req 3B What is total bad debt expense for 2021? Bad debt expense Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3A Req 3B How would accounts receivable appear in the 2021 balance sheet? Balance Sheet (partial) Current assets: Accounts receivable (net)