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 $586,000 and the allowance account had a credit balance of 550.000 Accounts receivable activity for 2021 was as follows: Beginning balance Credit sales Collections Write-offs Ending balance $ 556,000 2,680,000 (2,543,000) 145.000) 5 678,000 The company's controller prepared the following aging summary of year end accounts receivable A Group 0-60 days 61-90 days 91-120 days Over 120 days Total Summary Amount Percent Uncollectible 5400,000 43 95,000 15 55,000 25 125,000 36 5678.000 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