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 $608,000 and the allowance account had a credit balance of $72,000. Accounts receivable activity for 2018 was as follows Beginning balance Credit sales Collections Write-offs $ 608,000 2,790,800 (2,653,900) 56 Ending balance $689,000 The company's controller prepared the following aging summary of year-end accounts recelvable: Age Group 0-60 days 61-90 days 91-120 days Amount Percent Uncollectibl $455,000 76,800 66,000 Over 128 days92,009 $689,000 5% 14 25 40 Total Renuired- The company's controller prepared the following aging summary of year-end accounts receivable: Summar Amount Percent Uncollectible e Group 0-60 days 61-90 days 91-120 days Over 120 days $455,000 76,000 66,000 92,000 $689,000 5% 14 25 40 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