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 2017, accounts receivable were $584,000 and the allowance account had a credit balance of $48,000. Accounts receivable activity for 2018 was as follows Beginning balance $ 584,000 Credit sales Collections Write-offs 2,670,000 44,000 $ 677,000 (2,533,000) Ending balance The company's controller prepared the following aging summary of year-end accounts receivable Summar Amount Percent Uncollectible Age Group 0-60 days 61-90 days 91-120 days Over 120 days $395,000 94,000 54,000 134,000 $677,000 5% 35 Total Journal entry worksheet 2 Record a summary entry to record the monthly bad debt accrual Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet 2 Record a summary entry to record the 2018 write-offs. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet Record the year-end adjusting entry for bad debt expense Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal What is total bad debt expense for 2018 Bad debt expense Req 2 Req 3B How would accounts receivable appear in the 2018 balance sheet? Balance Sheet (partial) Current assets: Accounts receivable (net) Req 3A Req 3B