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?