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: Toyining balance Credit sal Collection write-otto tinding balance $578,000 2.600.000 X2,503,000) (41,000 $74,000 The company's controller prepared the following aging summary of year-end accounts receivable dro 0-60 days 61-90 day 91-120 day Over 120 days Total Amount Percent collectie $380.000 5 100,000 11 51.000 21 163.000 32 3674,000 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? Complete this question by entering your answers in the tabs below