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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 2020. accounts receivable were $610,000 and the allowance account had a credit balance of $74.000. Accounts receivable activity for 2021 was as follows: Beginning balance Credit sales Collections Write-offs Ending balance $ 619,690 2,800,000 (2,663,60e) (57,000) $ 690, eae The company's controller prepared the following aging summary of year-end accounts receivable: Age Group 9-60 days 61-90 days 91-120 days Over 120 days Total Amount $460,880 78,00 67,800 85,800 $690, eee Summary Percent Uncollectible 4 % 15 26 41 Requlred: 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 2021? 3-b. How would accounts receivable appear in the 2021 balance sheet? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 3A Reg 38 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.) View transaction list Journal entry worksheet Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 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 is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record a summary entry to record the 2021 write-offs. Note: Enter debits before credits Event General Journal Debit Credit 2 Record entry Clear entry View general journal (Reg 1 Req2 > Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 3A Reg 3B Prepare the necessary year-end adjusting entry for bad debt expense. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 Record the year-end adjusting entry for bad debt expense. Note: Enter debits before credits. Event General Journal Debit Credit 1 Record entry Clear entry View general journal 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 2021? 3-b. How would accounts receivable appear in the 2021 balance sheet? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 3A Reg 3B What is total bad debt expense for 2021? Bad debt expense 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 2021? 3-b. How would accounts receivable appear in the 2021 balance sheet? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Req 3A Reg 38 How would accounts receivable appear in the 2021 balance sheet? Balance Sheet (partial) Current assets: Accounts receivable (net) Req 3A Reg 3B