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 f 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 $574,000 and the allowance account had a credit balance of $54,000. Accounts receivable activity for 2021 was as follows: Beginning balance $ 574.000 Credit sales 2,620,000 Collections (2,483,000) Write-offs (68,000) Ending balance 643,000 The company's controller prepared the following aging summary of year-end accounts receivable: Summary Age Group Amount Percent Uncollectible 0-60 days $430,000 61-90 days 98,000 15 91-120 days 60.000 25 Over 120 days 55,000 40 Total $643.000 Required: 1. Prepare a summary journal entry to record the monthly bad debt accrual and the writeolls during the year. 2. Prepare the necessary year-end adjusting entry for bad debt expense. 3. What is total bad debt expense for 2021? How would accounts receivablc appear in the 2021 balance sheet