a$.$ Sold $$1,346,600$ of merchandise on credit $($that had cost $$984,400),$ terms $\frac{n}{30}.$

b$.$ Wrote off $$21,100$ of uncollectible accounts receivable.

c$.$ Received $$669,400$ 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 $$1,509,900$ of merchandise $($that had cost $$1,256,900)$ on credit, terms $\frac{n}{30}.$

f$.$ Wrote off $$31,100$ of uncollectible accounts receivable.

g$.$ Received $$1,387,700$ 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.

Complete this question by entering your answers in the tabs below.

Joumal Entry

Year $1$

Journal Entry

Year $2$

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