please complete required 2 required 3A and required 3B

Problem 7-1 (Algo) Uncollectible accounts; allowance method; income statement and balance sheet approach (LO7-5, 7-6) 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 2020, accounts receivable were $580,000 and the allowance account had a credit balance of $44,000. Accounts receivable activity for 2021 was as follows: Beginning balance Credit sales Collections Write-offs Ending balance $ 580,000 2,650,000 (2,513,000) (42,000) $ 675,000 nces The company's controller prepared the following aging summary of year-end accounts receivable: Age Group 0-60 days 61-90 days 91-120 days Over 120 days Total Summary Amount Percent Uncollectible $385,000 92,000 52,000 146,000 $675,000 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. 2. What iental har det evnence for 2017 Age Group 0-60 days 61-90 days 91-120 days Over 120 days Total Amount Percent Uncollectible $385,000 92.000 52,000 146,000 $675,000 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 Req 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 View journal entry worksheet General Journal Credit No Event 11 Debit 79,500 Bad debt expense Allowance for uncollectible accounts 79 500 2 2 42,000 Allowance for uncollectible accounts Accounts receivable 42.000 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Req Req 3B Prepare the necessary year-end adjusting entry for bad debt expense. (If no entry is required for a transaction/event, select "No journa entry required" in the first account field.) View transaction list Journal entry worksheet Record the year-end adjusting entry for bad debt expense. Note: Enter debits before credits Event General Journal Debit Credit Bad debt expense Allowance for uncollectible accounts 7 of 14 1: Next Age Group 0-60 days 61-90 days 91-120 days Over 120 days Total Summary Amount Percent Uncollectible $385,000 92,000 52,000 146,000 $675,000 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 Rea Req 3B What is total bad debt expense for 2021? Bad debt expense CHECR my 0-60 days 61-90 days 91-120 days Over 120 days Total $385,000 92,000 52,000 146,000 $675,000 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 Req 3B How would accounts receivable appear in the 2021 balance sheet? Balance Sheet (partial) Current assets: Accounts receivable (net)