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 2020, accounts receivable were $592,000 and the allowance account had a credit balance of $56,000. Accounts receivable activity for 2021 was as follows: Beginning balance Credit sales Collections Write-offs Ending balance $592,000 2,710.000 (2,573,000) (48,000 $ 681,000 The company's controller prepared the following aging summary of year-end accounts receivable: Age Group e-6e days 61-90 days 91-120 days Over 120 days Total Amount $415,000 98,eee 58,eee 110,000 $681.ee Summary Percent Uncollectible 4% 12 28 39 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? 3-6. How would accounts recevable appear in the 2021 balance sheet? Journal entry worksheet 1 2 Record a summary entry to record the monthly bad debt accrual. Note: Enter debits before credits. Event General Journal Debit Credit