ework Help Save Liang Company began operations on January 1,2016. 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 2016 a. Sold $1,347.300 of merchandise (that had cost $976,900) on credit, terms n/30 b. Wrote off $19,300 of uncollectible accounts receivable. c. Received $674.300 cash in payment of accounts receivable. d. In adjusting the accounts on December 31, the company estimated that 1 80% of accounts receivable will be uncollectible. 2017 e. Sold $1,501,800 of merchandise (that had cost $1,342,700) on credit, terms n/30 f. Wrote off $34,300 of uncollectible accounts receivable. g. Received $1,307,300 cash in payment of accounts receivable h. In adjusting the accounts on December 31, the company estimated that 180% of accounts receivable will be Required Prepare journal entries to record Liang's 2016 and 2017 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 recevable) (Round your intermediate calculations to the nearest dollar amount.) e this question by entering your answers in the tabs below. Prev - 8 of