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 recelvable were $582,000 and the allowance account had a credit balance of $46,000. Accounts s4 recelvable activity for 2018 was as follows: Beginning balance582,000 Credit sales Collections Write-offs 2,660,000 (2,523,000) (43,000 676,000 Ending balance The company's controller prepared the following aging summary of year-end accounts receivable: Summary reent Uncollectible Age Group 0-60 day 61-90 days 91-120 days 390, 00 93,000 53,000 13 23 34 Over 120 days140 000 Total $676,000 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 2018? 3-b. How would accounts receivable appear in the 2018 balance sheet