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 $578,000 and the allowance account had a credit balance of $42,000. Accounts receivable activity for 2021 was as follows: Beginning balance $ 578,080 Credit sales 2, 640,080 Collections (2, 503,080) Write-offs (41,800) Ending balance $ 674,080 The company's controller prepared the following aging summary of year-end accounts receivable: Summary Age Group Amount Percent Uncollectible 0-60 days $380, 000 5% 61-90 days 100,080 11 91-120 days 51, 000 21 over 120 days 143, 080 32 Total $674,000 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?x Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Reg 1 Req 2 Reg 3A Reg 3B How would accounts receivable appear in the 2021 balance sheet? Balance Sheet (partial) Current assets: Accounts receivable (net) S 65,000 X