a$.$ Sold $$1,346,500$ of merchandise on credit $($that had cost $$980,000),$ terms $\frac{n}{30}.$

b$.$ Wrote off $$21,500$ of uncollectible accounts receivable.

c$.$ Received $$671,700$ cash in payment of accounts receivable.

d$.$ In adjusting the accounts on December $31,$ the company estimated that $1\mathrm{.}90\%$ of accounts receivable would be uncollectible.

Year $2$

e$.$ Sold $$1,516,900$ of merchandise $($that had cost $$1,309,500)$ on credit, terms $\frac{n}{30}.$

f$.$ Wrote off $$27,900$ of uncollectible accounts receivable.

g$.$ Received $$1,352,400$ cash in payment of accounts receivable.

h$.$ In adjusting the accounts on December $31,$ the company estimated that $1\mathrm{.}90\%$ of accounts receivable would be uncollectible.

Required:

Prepare journal entries to record Liang's Year $1$ and Year $2$ 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.$)$

Note: Round your intermediate calculations to the nearest dollar.

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Journal Entry

Journal Entry

Year $1$

Year $2$

Prepare journal entries to record Liang's Year $2$ 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.$)$

$\backslash$table$[[$No$,$Transaction,General Journal,Debit,Credit$],[1,e(1),$Accounts receivable,$1,516,900,$H$],[,$Sales,$y=1,1,516,900$