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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 3% times the am ount of credit sales for the month. At the fiscal year-end of December 31, an aging of accounts recelvable schedule Is prepared and the allowance for uncollectible accounts is adjusted accordingly At the end of 2017, accounts recelvable were $578,000 and the allowance account had a credit balance of $42,000. Accounts recelvable activity for 2018 was as follows Beginning balance Credit sales Collections Write-offs $578,900 2,648,998 2,583,9e8) (41,88e) Ending balance $674,800 The company's controller prepared the following aging summary of year-end accounts recelvable: Summa Amount Percent Uncollectible Age Group 8-68 days 61-98 days 91-12e days Over 128 days 5% 198,99e 51,800 143,99e $674,8ee 21 32 Total 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-b. How would accounts recelvable appear In the 2018 balance sheet? Answer is not complete Complete this question by entering your answers in the tabs below Req 1 Req 2 Req 3A Req 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.) Event General Journal Debit Credit Bad debt expense -4.200 Allowance for uncollectible accounts 4.300 K Req 1 Req 3A

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