Liang Company began operations in Year 1. During its first two years, the company completed a number of transactions involving sales on credit, accounts receivable collections, and bad debts. These transactions are summarized as follows.

Year 1

a. Sold $1,345,434 of merchandise (that had cost $975,000) on credit, terms n⁄30.

b. Wrote off $18,300 of uncollectible accounts receivable.

c. Received $669,200 cash in payment of accounts receivable.

d. In adjusting the accounts on December 31, the company estimated that 1.5% of accounts receivable would be uncollectible.
Year 2

e. Sold $1,525,634 of merchandise on credit (that had cost $1,250,000), terms n⁄30.

f. Wrote off $27,800 of uncollectible accounts receivable.

g. Received $1,204,600 cash in payment of accounts receivable.
h. In adjusting the accounts on December 31, the company estimated that 1.5% of accounts receivable would be uncollectible.
Required
Prepare journal entries to record Liang’s summarized transactions and its year-end adjustments to record bad debts expense. (The company uses the perpetual inventory system, and it applies the allowance method for its accounts receivable. Round to the nearest dollar.)