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 $598,000 and the allowance account had a credit balance of $62,000. Accounts receivable activity for 2021 was as follows: Beginning balance Credit sales Collections Write-offs Ending balance $ 598,000 2,740,000 (2,603,000) (51,000) 684,000 The company's controller prepared the following aging summary of year-end accounts receivable: Age Group 0-60 days 61-90 day 91-120 days Over 120 days Total Summary Amount Percent Uncollectible $430,000 4 92,000 15 61,000 20 101.000 35 $684.000 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