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 $602,000 and the allowance account had a credit balance of $66.000 Accounts receivable activity for 2018 was as follows Beginning balance Credit sales 602,eee 2,760,eee (2,623,000) (53,eee) Collections write-offs Ending balance 686,e0e The company's controller prepared the following aging summary of year-end accounts receivable es Summary Percent Uncollectible Age Group e-6e days 61-98 days Amount $440,eee 7e,eee 63, eee 5 % 11 91-128 days Over 120 days 22 113,eee 37 Total $686,eee 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? 3-6. How would accounts receivable appear in the 2018 balance sheet? Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3A Req 3B Prepare a summary journal entry to record the monthly bad debt accrual and the write-offs during the year. (If no entry transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet K Record a summary entry to record the monthly bad debt accrual. Note: Enter debits before credits Event General Journal Debit Credit 1 Record entry Clear entry View general journal Req 3A Req 3B Req 2 Req 1 Prepare a summary journal entry to record the monthly bad debt accrual and the write-offs during the year transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Req 3B Req 3A Req 2 Req 1 Prepare the necessary year-end adjusting entry for bad debt expense. (If no entry is required for a transaction/event, entry required" in the first account field.) View transaction list Journal entry worksheet 1 Record the year-end adjusting entry for bad debt expense. ces Note: Enter debits before credits General Jourmal Debit Event Credit 1 Record entry Clear entry View general journal Req 1 Req 3A> Prev 1 of 5 Next > Beginning balance Credit sales Collections Write-offs 2,760, eee (2,623,e0e) (53,eee 686,eee Ending balance The company's controller prepared the following aging summary of year-end accounts receiva bl Summary Percent Uncollectible 5 % Age Group e-60 days Amount $440,eee 7,eee 63, 113,000 $686,eee 11 61-90 days 91-120 days Over 120 days 22 37 Total Required: 1. Prepare a summary journal entry to record the monthly bad debt accrual and the write-offs durin 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? Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3A Req 3B What is total bad debt expense for 2018? Bad debt expense