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 $594,000 and the allowance account had a credit balance of $58,000. Accounts receivable activity for 2024 was as follows: Beginning balance Credit sales Collections Write-offs Ending balance $ 594,000 2,720,000 (2,583,000) (49,000) $ 682,000 The company's controller prepared the following aging summary of year-end accounts receivable: Summary Age Group Amount Percent Uncollectible 0-60 days $420,000 3% 61-90 days 90,000 13 91-120 days 59,000 29 Over 120 days 113,000 401 Total $ 682,000 Required: 1. Prepare a summary journal entry to record the monthly bad debt accrual and the write-offs during the year.