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 $614,000 and the allowance account had a credit balance of $78,000. Accounts receivable activity for 2021 was as follows: $ Beginning balance Credit sales Collections Write-offs Ending balance 614,000 2,820,000 (2,683.000) (59.000) 692.000 S The company's controller prepared the following aging summary of year-end accounts receivable: Age Group 0-60 days 61-90 days 91 - 120 days Over 120 days Amount Percent Uncollectible $470,000 82,000 69,000 71,000 $692,000 Total 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? Req 2 Reg 1 Reg 38 Reg 3A Prepare the necessary year-end adjusting entry for bad debt expense. (If no entry is required for a transaction/event, select "NO entry required" in the first account field.) View transaction list Journal entry worksheet Record the year-end adjusting entry for bad debt expense. Note: Enter debits before credits Credit Event 1 General Journal Allowance for uncollectible accounts Accounts receivable Debit 59,000 59.000 1. Piepalea SUU JUUNTUI UN 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. Reg 1 Req 2 Req Req 3B What is total bad debt expense for 2021? Bad debt expense Prev 1 of 1 2. Prepare the necessary year-end adjusting enly IUI UUU UU 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. Reg 1 Reg 2 Reg 3A Req3B Reg 3B How would accounts receivable appear in the 2021 Dalance sheet? Balance Sheet (partial) Current assets Accounts receivable (net) Req 3A Red