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 receivable were $590,000 and the allowance account had a credit balance of $54,000. Accounts receivable activity for 2018 was as follows:

Beginning balance	$	590,000
Credit sales		2,700,000
Collections		(2,563,000	)
Write-offs		(47,000	)
Ending balance	$	680,000

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

		Summary
Age Group	Amount		Percent Uncollectible
060 days	$	410,000	5	%
6190 days		97,000	11
91120 days		57,000	27
Over 120 days		116,000	38
Total	$	680,000

Required: 1. Prepare 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.) Record a summary entry to record the monthly bad debt accrual. 2. Prepare the necessary year-end adjusting entry for bad debt expense. Record the year-end adjusting entry for bad debt expense. 3-a. What is total bad debt expense for 2018?

Bad debt expense

3-b. How would accounts receivable appear in the 2018 balance sheet?

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