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 $610,000 and the allowance account had a credit balance of $74,000. Accounts receivable activity for 2021 was as follows:

Beginning balance	$	610,000
Credit sales		2,800,000
Collections		(2,663,000	)
Write-offs		(57,000	)
Ending balance	$	690,000

The companys controller prepared the following aging summary of year-end accounts receivable:

		Summary
Age Group	Amount		Percent Uncollectible
060 days	$	460,000	4	%
6190 days		78,000	15
91120 days		67,000	26
Over 120 days		85,000	41
Total	$	690,000

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?

repare a summary journal entry to record the monthly bad debt accrual and the write-offs during the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

No	Event	General Journal	Debit	Credit
1	1	Bad debt expense
		Allowance for uncollectible accounts
2	2	Allowance for uncollectible accounts
		Accounts receivable

Prepare the necessary year-end adjusting entry for bad debt expense. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

No	Event	General Journal	Debit	Credit
1	1	Bad debt expense
		Allowance for uncollectible accounts

What is total bad debt expense for 2021?

	Bad debt expense

How would accounts receivable appear in the 2021 balance sheet?

Balance Sheet (partial)
Current assets:
Accounts receivable (net)