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 2017, accounts receivable were $586,000 and the allowance account had a credit balance of $50,000. Accounts receivable activity for 2018 was as follows $ 586,000 2,680,000 (2,543,000) 45,000 $678,000 Beginning balance Credit sales Collections Write-offs Ending balance The company's controller prepared the following aging summary of year-end accounts receivable ummar Age Group 0-60 days 61-90 days 91-120 days Over 120 days Amount Percent Uncollectible $400,000 95,000 55,000 128,000 $678,000 4% 15 25 36 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 2018? 3-b. How would accounts receivable appear in the 2018 balance sheet